Prohibition on alteration/correction of cheques from Dec 01, 2010

The RBI directive asking all banks not to honour cheques which are over written will be effective from December 01, 2010 instead of July 01, 2010, as notified earlier.

The directive has been issued to curtail cheque frauds on account of alterations in the various fields of cheques and to give protection to customers as well as banks.

For details, download RBI Circular dated 22 June 2010

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