No plans to remove bank cheque payment system - Central govt
Posted on: 27/Nov/2017 11:01:01 AM
The central government has explained that there is no plan to remove the existing bank cheque payment system.
The central government has initiated various steps in encouraging digital transactions after the demonetization.
Recently, an information floated around that the central government was planning to remove the cheque payment system. This created a sensation among the finance industry and the public.
In this situation, the central government has clarified and confirmed through Twitter that there are no such plans.
Cheque payments continue to serve as the backbones for the trading and commercial finance transactions. While it is true that the central government encourages cashless transaction, it is also a valid point that cheque transactions are also a part of cashless transactions. So, the central government has confirmed that there are absolutely no plans to do away with the bank cheque transactions.
