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Demonetisation; Madhya Pradesh traders can now pay via cheque

By Ians

Bhopal, Nov 17: In relief for traders in Madhya Pradesh post the demonetisation move, they can now pay for agricultural produce through cheque, and the mandi (wholesale market) secretary will be responsible for encashment, said an official.

Also Read: Don't hoard currency, sufficient notes in supply: RBI

For licensed traders, the cost of specified commodities can be paid through cash, Real-time gross settlement systems (RTGS), bank draft, bankers cheques or cross-cheque, State Agriculture Marketing Board Managing Director Rakesh Srivastav said on Wednesday.

MP traders can now pay via cheque

The direction says the payment by the licensed traders will be cross-checked and it will be the responsibility of the mandi secretary to get a declaration in writing for the same, with a trader's seal and signature, after which the the permission letter will be issued.

Read More: Opposition attacks Modi government over demonetisation

It was also said that the secretary will do the cross-check without delay. If the cheque bounces, proceedings will be initiated to recover the amount from the traders.


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