RBI/2025-26/21
DOR.CO.SOG(Leg) No.15/09.08.024/2025-26 April 8, 2025 All Scheduled Commercial Banks
All Co-operative Banks Madam / Dear Sir Review of Regulatory Guidelines – Withdrawal of Circulars As a sequel to the recommendations of Regulation Review Authority (RRA) 2.0, a further review has been undertaken on the existing regulatory guidelines on cheques. Accordingly, the circulars listed in ‘Annex’ are withdrawn with immediate effect. Yours faithfully (Sunil T S Nair)
Chief General Manager
Annex List of Circulars withdrawn | Sr.No. | Circular No. | Circular Date | Subject of the Circular | | 1 | DBOD.No.CAS.1392/C.446-72 | August 19, 1972 | Temporary Credit Limits against Cheques Taken for Collection when Clearing is Suspended | | 2 | DBOD.No.NCC.77/16.15.84/85 | July 31, 1984 | Introduction of MICR Technology for Cheque Processing | | 3 | DBOD.No.Leg.BC-88/C.466(IV)-84 | August 22, 1984 | Customer Service - Payment of Interest at Savings Bank Rate for the Delay in Collection of Outstation Cheques (Recommendation No.78) | | 4 | DBOD.No.BL.BC.81/BL.77-78 | January 11, 1988 | Immediate Credit of Outstation Cheques upto Rs. 2,500/- and Payment of Interest for Delayed Collection of Outstation Instruments - Extension of Facilities at Extension Counters | | 5 | DBOD.No.Leg.BC.96/C.466(IV)-88 | February 17, 1988 | Immediate Credit of Outstation Cheques upto Rs. 2,500/- | | 6 | DBOD.No.Leg.BC.112/C.233-89 | April 21, 1989 | Section 4 of Banking, Public Financial Institutions and Negotiable Instruments Laws(Amendment) Act, 1988 - Imposing Penalties in case of Dishonour of Cheque for Insufficiency of Funds in the Account | | 7 | DBOD.No.GC.BC.84/C.408(A)-91 | February 19, 1991 | Frauds - Kite Flying of Cheques | | 8 | DBOD.No.BC.82/09.07.007/93 | February 25, 1993 | Customer Service - Immediate Credit of Local Cheques | | 9 | DBOD.No.BC.127/11.19.001/92-93 | June 9, 1993 | Clearing Differences | | 10 | DBOD.No.BC.140/09.07.007/93 | July 12, 1993 | Delay in Crediting the Proceeds of Outstation Instruments - Rate of Interest | | 11 | DBOD.No.BC.45/09.07.007/94 | April 16, 1994 | Customer Service - Immediate Credit of Outstation Local Cheques - Rate of Interest | | 12 | DBOD.No.BC.93/11.19.001/93-94 | August 4, 1994 | Presentation of Cheques in the same day's MICR Clearing | | 13 | DBOD.BC.No.59/09.07.007/95 | May 17, 1995 | Customer Service - Collection of Outstation Cheques | | 14 | DBOD.No.724/09.07.007/96 | June 22, 1996 | Customer Service - Collection of Outstation Cheques | | 15 | DBOD.No.BC.48/09.07.007/97 | April 22, 1997 | Customer Service - Collection of Local Cheques | | 16 | DBOD.No.248/09.07.007/97-98 | December 12, 1997 | Customer Service - Collection of Outstation Instruments | | 17 | DBOD.No.BC.132/09.07.007/99-2000 | December 30, 1999 | Customer Service - Collection of Outstation Cheques | | 18 | DBOD.No.BC.181/09.07.007/99-2000 | May 29, 2000 | Customer Service - Immediate Credit of Outstation and Local Cheques - Enhancement of Ceiling | | 19 | DBOD.No.LEG.BC.131/09.07.007/2000-2001 | June 14, 2001 | Delay in Collection of Outstation Cheques | | 20 | DBOD.No.Leg.BC.21/09.07.007/2002-03 | August 23, 2002 | Customer Service - Immediate Credit for Outstation and Local Cheques - Enhancement of Ceiling | | |