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LATEST NEWS UPDATES | No proposal to withdraw cheque book facility, clarifies finance ministry

No proposal to withdraw cheque book facility, clarifies finance ministry

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published Published on Nov 24, 2017   modified Modified on Nov 24, 2017
-PTI

Some media reports said there is a possibility that the central govt may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions.

New Delhi:
The finance ministry on Thursday said there is no proposal to withdraw the bank cheque book facility, which is an integral part of the payments landscape.

The clarification comes in the backdrop of reports in a certain section of media that there is a possibility that the central government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions.

This has been denied by the government and reaffirmed that there’s no such proposal, it said in statement.

“The Government of India has reaffirmed that there is NO proposal under consideration to withdraw the bank Cheque Book facility,” the finance ministry said in a tweet.

Post demonetisation, the government has been pushing digital transaction with an aim to move towards less cash society.

The ministry emphasised that while the government is committed to transform India into a less cash economy and promote digital and electronic transactions, “cheques are an integral part of the payments landscape”.

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Hindustan Times, 23 November, 2017, http://www.hindustantimes.com/business-news/no-proposal-to-withdraw-cheque-book-facility-clarifies-finance-ministry/story-5SNLOIZ8qCMPBt2WQEPkOL.html


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