The Hindu Business Line : Acceptance of cheques at counters

The RBI has asked banks to inform customers that they have the option of tendering cheques at the counters and obtain acknowledgement. "Banks are, therefore, advised to invariably display on the cheque drop box itself that `Customers can also tender the cheques at the counter and obtain acknowledgement on the pay-in slips'," said the RBI in a notification issued on Monday.

Despite its earlier circular of April 10, 2004, that both the drop box facility and tendering of cheques at counters should be made available, RBI and the banking ombudsman have been receiving complaints that many bank branches are not accepting cheques at their counters.

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