• search

To promote digital transactions Centre likely to withdraw cheque books

By Vicky
Subscribe to Oneindia News
For Quick Alerts
ALLOW NOTIFICATIONS
For Daily Alerts

    Cheque books may soon become a thing of the past. A senior of the trade body said that the government may soon phase out chequebooks to encourage digital transactions further.

    To promote digital transactions Centre likely to withdraw cheque books

    Praveen Khandelwal, secretary general of the Confederation of All India Traders said that in all probability, the Centre may withdraw chequebooks and encourage digital transactions.

    RBI data suggests that the number of digital transactions rose by around 10 percent to 965 million in October from 877 million in September. The digital transaction in October is the highest since the decision on demonetisation was made in November 2016.

    While the personal payments have shifted to NEFT and IMPS modes, businesses, where payments involve multi-level clearances, have been slow in discarding cheque-based payments.

    OneIndia News

    For Breaking News from Oneindia
    Get instant news updates throughout the day.

    X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more