RBI/2009-10/387
RPCD.CO.RRB.BC.No.65/03.05.33/2009-10

April 8, 2010

The Chairman
All Regional Rural Banks (RRBs)

Dear Sir,

Cheque Collection Policy (CCP)
- Immediate credit of Local / Outstation Cheques

Please refer to our circular RPCD.CO.RRB.BC.No. 87/03.05.33/2008-09 dated February 5, 2009 advising RRBs to frame their Cheque Collection Policies covering local and outstation cheque collection as per the time frame prescribed by the National Consumer Disputes Redressal Commission.

2. RRBs are advised that the Cheque Collection Policy should include instructions on immediate credit for local/outstation cheques in addition to the aspects of time frame for collection of local/outstation instruments and interest payment of delayed collection.

3.  Please acknowledge receipt of this circular to our Regional Offices.

Yours faithfully

( R.C.Sarangi )
Chief General Manager