Banks Can Return Cheques Altered For Anything But The Date

A recent RBI Circular [1832/04.07.05/ 2009-10 dated 22nd February 2010] now clearly mandates that the branch/ clearing teams can return cheques which have alteration in the: * Payee Name * Amount in numbers * Amount in words Prohibiting alterations/ corrections on cheques: No changes/ corrections should be carried out on the cheques (other than for [...]

Author: Austin Comments: 2 comments Date: 3 May 2010 More: Read more
Categories: Banks Tags: , ,