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The RBI on Monday asked banks to issue new cheque books only under the new format and gave them time till July-end to withdraw the old format cheques. All cheques currently with customers in the old format (non-Cheque Truncation System) will continue
The problem of cheques being issued by people and companies without sufficient balance in their bank accounts is becoming worse as an estimated 150 to 250 such cases are being heard by the courts on a daily basis. According to sources in the legal
When preparing to travel, lay out all your clothes and all your money...You work hard, track expenses, monitor budgets and count the days until you've earned enough. And when you doYou blow all your hard-earned money on a two-week vacation, making
An Orlando woman was sentenced to roughly five years in federal prison for her role in a counterfeit traveler's check scheme, the U.S...Lavitress Williams, 33, was accused of participating in a scheme where fake traveler's checks were passed at
China's outbound M&A value stands at $6.1 billion year-to-date, down 37 percent year-on-year , and the lowest volume since the $1.8 billion seen in the same period in 2010. The value of inbound deals is up from the $2.2 billion recorded in the same
Vt. (AP) Police in the Vermont city of South Burlington are warning businesses to be on the lookout for fake traveler's checks. In the past week, police in Chittenden County have noticed an influx of fraudulent American Express Traveler's Cheques.
www.thelocal.de/national/20130201-47709.html Customs officers confiscated a foreign currency cheque worth 54 million on Friday after catching an Iranian man trying to smuggle it illegally into the country at Dusseldorf airport. The man had hardly
Seeking to discourage usage of cheques, an RBI paper today suggested that banks should charge cash withdrawal and deposit through cheques, while the government agencies should do away with 'convenience charges' for online payment of utility bills. "
People are now approaching banks for getting cheque books according to the new format issued. Comparing the old system of cheques with the new CTS, RK Gupta, Manager, Punjab National Bank said, Now there is no obligation to send the cheques
India processes as many as 1.2 billion cheques annually and, therefore, the implementation of this system would drastically cut down the waiting period involved...This is an online image-based cheque clearing system wherein the collecting bank branch