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 for 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
pornimashah
(Querist) 22 July 2008
Pls reply as soon as possible
Manish Singh
(Expert) 22 July 2008
meet the manager there and ask them what happened to ur cheque. its your right since you are a consumer. dont hesitate n be a true citizen and carry all relevant information with you.
If still they do not do anythinf about the issue, you can move the consumer court but its alwz advisable to sort it out with negotiations first.
Guest
(Expert) 22 July 2008
The outstation cheque are always delayed especially if the are on small towns. This is because the bank gives some time to drawee to arrange funds if funds are insufficient. They wait for a day or two. Check with your drawee.
In case the above has not happened, meet the higher officers of the bank, they will solve your problem and if you fight they will compensate with interest to you.
General RBI guideline that cheques below Rs.5000/- should be honored same day or upon receipt is not followed by most of the banks. This instruction was given to give relief to public.
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.
