Outstation Cheque Clearing
pornimashah
(Querist) 22 July 2008
This query is : Resolved
Hi All,
My husband has deposited a cheque of Rs. 2,500/- in Bank of Baroda Opera House, Mumbai branch on 07/02/2008 drawn on SBI, Mahad, Dist - Raigad PIN - 402301, distancing abt 150 km from Opera House. But till date that cheque is not cleared. Officer from Bank of Baroda, Opera House told us that they have sent the cheque fro clearing on 08/02/2008 & now they can not do anything, we have to enquire abt this in SBI Mahad Branch.
We enquire abt this in SBI Mahad also but there wasn't good reply.
Wat can we do now? Is there any provision for clearing of outstation cheques. Can anyone pls provide me related information.
Thanks in Anticipation.
Prakash Yedhula
(Expert) 22 July 2008
You can issue a notice to the banks concerned and follow it up with a consumer compliant if no action taken
SANJAY DIXIT
(Expert) 22 July 2008
The time frame for collection of local/ oustation cheques varies from bank to bank but the outer limit should not be more than 14 days in case of outstation cheques.
If there is any delay in collection of outstation cheques beyond the period of 14 days, interest at the fixed deposit rate, or at a specified rate as per the respective policy of the banks is to be paid to the payee of the cheques.
Already more than 5 months period has gone, so you immediate issue the legal notices to the banks in this regard & go for a consumar complaint, if action not taken, as Mr Yedul has already suggested.
arunprakaash.m.
(Expert) 22 July 2008
If you have counterfoil for depositing the outstation cheque you can ask the bank to verify the same with the collecting banker. If the delay is above 15 days the bank is under obligation to pay an interest of savings bank tariff to the customer till the time of collection.
