We fail to understand that why RBI takes so much time to come with such an order that all core banking enabled banks will issue only payable at par cheque book. We fail to understand that why a bank should issue a local cheque book and one payable at par cheque book when printing cost is same whereas it increases their logistics requirements.
However better late than never and we are happy that they have ordered all banks to issue payable at par cheque books and order is as appended below
... All CBS enabled banks are hereby advised to issue only 'payable at par'/ 'multi-city' CTS 2010 Standard cheques to all eligible customers,"
