Reserve Bank of India has given liberty to the banks to hike the service charges in the clearing of outstation cheques above Rs. 1 Lakh. To some relief, the service charges for the cheques below 1 lakh are kept constant. The new charges are applicable from today itself.
Earlier the banks were not allowed to levy more than Rs. 150 for speed clearing of an outstation cheque of more than Rs. 1 lakh. On the other hand RBI has lowered the service charges for clearing of an outstation cheque from Rs 50 to Rs 25.
"Charges fixed should be reasonable and computed on a cost-plus-basis and not as an arbitrary percentage of the value of the instrument. The service charges-structure should not be open ended and should clearly specify the maximum charges that would be levied on customers including charges if any, payable to other banks," RBI said.
1 comment:
I think this is not correct as RBI hike charges. Now a customer have to pay more charges for cheque clear.
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