The Reserve Bank of India (RBI) has issued Notification No. DOR.CO.SOG(Leg) No.15/09.08.024/2025-26 dated April 8, 2025, announcing the withdrawal of 20 circulars related to cheque regulation and customer service, as part of a broader regulatory clean-up under the Regulation Review Authority (RRA) 2.0 initiative.
The decision comes after a comprehensive review of outdated instructions on cheque processing, including those related to immediate credit of cheques, delays in collection, penalties for dishonour, and even the introduction of MICR technology.
These circulars (some date back to as early as 1972) were deemed redundant in light of modern banking practices and technological progress, such as electronic clearing systems and digital banking frameworks.
List of Circulars Withdrawn
| Sr. No. | Circular No. | Date | Subject |
| 1 | DBOD.No.CAS.1392/C.446-72 | August 19, 1972 | Temporary Credit Limits against Cheques Taken for Collection when Clearing is Suspended |
| 2 | DBOD.No.NCC.77/16.15.84/85 | July 31, 1984 | Introduction of MICR Technology for Cheque Processing |
| 3 | DBOD.No.Leg.BC-88/C.466(IV)-84 | August 22, 1984 | Payment of Interest at Savings Bank Rate for Delay in Collection of Outstation Cheques |
| 4 | DBOD.No.BL.BC.81/BL.77-78 | January 11, 1988 | Immediate Credit of Outstation Cheques up to Rs. 2,500/-; Interest on Delayed Collection; Extension Counters |
| 5 | DBOD.No.Leg.BC.96/C.466(IV)-88 | February 17, 1988 | Immediate Credit of Outstation Cheques up to Rs. 2,500/- |
| 6 | DBOD.No.Leg.BC.112/C.233-89 | April 21, 1989 | Imposing Penalties for Dishonour of Cheques (Insufficient Funds) under 1988 Amendment Act |
| 7 | DBOD.No.GC.BC.84/C.408(A)-91 | February 19, 1991 | Frauds – Kite Flying of Cheques |
| 8 | DBOD.No.BC.82/09.07.007/93 | February 25, 1993 | Immediate Credit of Local Cheques |
| 9 | DBOD.No.BC.127/11.19.001/92-93 | June 9, 1993 | Clearing Differences |
| 10 | DBOD.No.BC.140/09.07.007/93 | July 12, 1993 | Delay in Crediting Proceeds of Outstation Instruments – Rate of Interest |
| 11 | DBOD.No.BC.45/09.07.007/94 | April 16, 1994 | Immediate Credit of Outstation Local Cheques – Rate of Interest |
| 12 | DBOD.No.BC.93/11.19.001/93-94 | August 4, 1994 | Presentation of Cheques in Same Day’s MICR Clearing |
| 13 | DBOD.BC.No.59/09.07.007/95 | May 17, 1995 | Collection of Outstation Cheques |
| 14 | DBOD.No.724/09.07.007/96 | June 22, 1996 | Collection of Outstation Cheques |
| 15 | DBOD.No.BC.48/09.07.007/97 | April 22, 1997 | Collection of Local Cheques |
| 16 | DBOD.No.248/09.07.007/97-98 | December 12, 1997 | Collection of Outstation Instruments |
| 17 | DBOD.No.BC.132/09.07.007/99-2000 | December 30, 1999 | Collection of Outstation Cheques |
| 18 | DBOD.No.BC.181/09.07.007/99-2000 | May 29, 2000 | Immediate Credit of Outstation and Local Cheques – Enhancement of Ceiling |
| 19 | DBOD.No.LEG.BC.131/09.07.007/2000-2001 | June 14, 2001 | Delay in Collection of Outstation Cheques |
| 20 | DBOD.No.Leg.BC.21/09.07.007/2002-03 | August 23, 2002 | Immediate Credit for Outstation and Local Cheques – Enhancement of Ceiling |
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
