High Value Cheques in Clearing

The RBI's chennai clearing house has written to their Head Office,Mumbai seeking approval to ENHANCE the minimum threshold limit of rupees one lakh to rupees ten lakhs under RTGS for High Value cheques presentation with effect from 1st May 2009 and the same is APPROVED.

This will further take the Banks away from the physical cheques handling and SHIFT the customers to make use of the NEFT /EFT machanism under the commuterised environment.

RBI Mumbai has notified through their Press Release dated 29th April 2009.