As a part of implementing cheque truncation in India, Reserve bank of India in has decided not to accept cheque with alteration or correction for clearing. Altered cheques will start rejecting with effect from 01.12.2010. At present the regulation is applicable to Delhi only. The notification is applicable for a cheque cleared under image based clearing system (CTS).This is not applicable for cheques clearing under other clearing arrangement.
As per RBI “Any alteration even if countersigned except a counter signed correction of date shall be returned if presented in clearing through the image based CTS system in Delhi/NCR (National capital region) region.”
You can alter cheque only in the date field and that too required counter sign of authorized. Alteration in any other part of the cheque will leads the rejection of cheque.
Why Cheque alteration regulation applicable in Delhi only?
CTS –Cheque truncation system is under test run in Delhi; Hence cheque clearing through image is any applicable in Delhi only. Hope soon this will be mandatory all over India when implemented CTS.
Why Cheque cannot be altered?
This to prevent fraudulent transaction and clearing related fraud; Image can be easily edited by using various techniques. An image of cheque with so many alterations will increase the chances of such actions during clearing cycle. To enhance the security features of cheque truncation system; safe cheques without alterations are essential.
The following things should be take care by the customers
- Now in Delhi and in future all other parts of the country, not accept cheque with alteration.
- Do not issue an at par cheque with alteration for the clearing in Delhi circle.
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