RBI has, vide its circular dated April 13, 2009, made the following changes in High Value Clearing for metro centers. Following is the roll out plan for RBI
|With Effect From:||Minimum Value of Cheques to be presented in High Value Clearing|
|May 1, 2009||Rs 5 Lakhs Only|
|August 1, 2009||Rs 10 Lakhs Only|
|November 1, 2009||High Value Clearing Not Applicable Henceforth|
Does this mean we are coming at an ERA of Cheque being a history.