Has RBI prohibited using black ink for writing cheques? Govt clarifies, ETCFO
There was a social media submit stating that the Reserve financial institution of India (RBI) has issued new guidelines prohibiting using black ink on cheques. Nevertheless, the federal government’s Press Info Bureau (PIB) has clarified that the declare circulating about prohibition of using black ink on cheques is pretend.
In a submit on social media platform X (previously generally known as Twitter), the PIB Truth Examine account said, “It’s being claimed in social media posts that RBI has issued new guidelines prohibiting using black ink on cheques. This declare is pretend Reserve Financial institution of India has not prescribed particular ink colours for use for writing cheques.”
— PIBFactCheck (@PIBFactCheck)
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Many individuals who had been left perplexed and nervous by the false data are relieved that the PIB has offered a clarification.
Key Information
Declare: RBI has banned using black ink on cheques.
Fact: This declare is pretend.
Clarification: RBI has not issued any pointers specifying or proscribing ink colours for writing cheques.
The general public is suggested to depend on verified sources and official communications to keep away from misinformation.
What’s a cheque?
A cheque is a written doc which you could undergo your financial institution instructing it to pay the quantity indicated in each phrases and numbers to the person whose title seems on the cheque.
In accordance with the HDFC Financial institution web site, “Cheques are additionally known as negotiable devices. In banking phrases, a negotiable instrument is a doc that guarantees its bearer a cost of the required quantity both on furnishing the doc to the banker or by a given date.”
What care needs to be taken by clients whereas writing cheques?
In accordance with the RBIs FAQs on Cheque Truncation System, “There are three photographs of every cheque which are taken in CTS – entrance Grey Scale, entrance Black and White and again Black and White. Clients ought to use image-friendly coloured ink to write down cheques to facilitate clear picture of written data.”
Additional, clients ought to use everlasting ink to stop fraudulent alternation of contents later. Nevertheless, the Reserve Financial institution of India (RBI) has not prescribed particular ink colours for use for writing cheques.
“Clients also needs to remember that cheques with alteration / modification aren’t accepted underneath CTS. No modifications / corrections might be carried out on the cheques (aside from for date validation functions, if required). For any change within the payee’s title, courtesy quantity (quantity in figures) or authorized quantity (quantity in phrases), contemporary cheque leaves needs to be utilized by clients. This might assist banks in figuring out and controlling fraudulent alterations.”
