All State Co-operative Banks (StCBs) and Central Co-operative Banks (DCCBs) - আরবিআই - Reserve Bank of India
All State Co-operative Banks (StCBs) and Central Co-operative Banks (DCCBs)
RBI / 2008-09 / 378
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RPCD.CO.RF.BC.No. 88 / 07.06.00 / 2008-09
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February 6, 2009
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17 Magha, Saka 1930
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All State Co-operative Banks (StCBs) and |
Dear Sir / Madam, |
Delays in Cheque Clearing - Case No. 82 of 2006 before |
As you may be aware, during August 2006, a case was filed before National Consumer Disputes Redressal Commission, New Delhi (the Commission) under the Consumer Protection Act, 1986 inviting attention to the delays in cheque clearing and, specifically, to the issue of float in local and inter-city clearing. Admitted in public interest as Case No. 82 of 2006, the complaint had named Reserve Bank of India (the Bank) and all Scheduled Commercial Banks (the banks) as respondents and sought adequate compensation by way of interest for delay in collection. |
i) StCBs and DCCBs shall frame/ reframe their Cheque Collection Policies (CCPs) covering local and outstation cheque collection as per the timeframe prescribed by the Commission. |
3. Please treat the matter as urgent and advise our concerned Regional Office (RO) the action taken within a month's time from the date of this letter. |
Yours faithfully |
(B.P.Vijayendra) |