Prohibiting alterations / corrections on cheques : No changes / corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations. ”
In simple terms,
With regards to recent guidelines issued by RBI on alterations or corrections on payment instruments (Cheques) vide cicular DPSS.Co.CHD. No. 1832/01.07.05/2009-10 dated 22nd February 2010
1) While issuing cheques, alteration on amount or the payee name will no longer be allowed.
2) Cheques with such corrections will no longer be honoured effective 1st July 2010.
Hence please issue fresh cheques in case of any corrections.
It may be noted that cheques with alterations or corrections (despite having your signature next to them) will no longer get cleared by banks after 1st July 2010.
Note : Alterations on Date will still be accepted.
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