bank check clearance
The Reserve Bank had implemented a new check clearing system on October 4 in which it was said that check clearing would be done on the same day, but instead of same day clearing, any check is taking 10 to 12 days to be cleared and due to this, businessmen as well as common people are facing huge problems. CTI has written a letter to Prime Minister Narendra Modi on this issue.
CTI Chairman Brijesh Goyal said that the facility of getting the checks cleared in the same day is taking a toll on the businessmen and the common people. Brijesh Goyal said that as soon as the RBI was announced, the businessmen had welcomed it but now it has completely changed, the only answer they are getting from the banks is that there is a technical glitch and the staff is not even fully trained on the new system. On the occasion of Diwali, the work has been badly affected due to the new check clearing system, the payments of the traders have got stuck and its major impact is being felt on the business sector. Traders are not able to pay each other on time, orders of traders are getting canceled and on busy occasions like Diwali, traders have to make rounds of banks.
Check not getting cleared even after 15 days
According to CTI, initially it was thought that the work would be expedited by clearing the checks in one day, but after the announcement, the check clearance system in the banks has started breaking down, the situation in some banks is that the checks which were deposited 15 days ago have not been cleared yet, apart from this, many banks are refusing to accept the cheques.
It is being said by the bank staff that you should not deposit the check yet. Apart from this, fights have started at many places among traders and people are saying that they should make payment through RTGS or NEFT instead of cheque. On the occasion of Diwali, people are not able to get money in their hands due to which Diwali shopping and payments are also being affected. In some banks, people making NEFT and UPI payments are also facing problems because the bankers there say that the app for our online payment facility is being updated.