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posted cheque details


Dear Sir

   i have given cheque as post dated cheque ex: 11/01/2015 but customer has deposited the 3 days before to that date

Both are same bank and bank as charged for for return of cheque as  " POST DATED " but same cheque has cleared on given date 

do i need get fine for there presenter when i check bank( ICICI) they said it RBI rule 

Please guide me 

 
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Retired Manager

It is not clear from your query whether the post dated cheques were given to your bank towards some EMI or you received a post dated cheque and given it to your bank for collection.  If you have given post dated cheques for EMI payable to your bank and they presented before that date and it resulted in return of cheque and debit of charges to your account, since the mistake is on the part of the bank they have to reimburse the charges.

 

If you have received a post dated cheque and presented it prematurely, well... its your mistake and bank takes the charges.

 

In any case, you have right to demand to quote the correct RBI rule for collecting the charges.  Bank must be transperent in debiting any charges and cannot quote vaguely and try to blame it on RBI rule without in fact quoting the precise rule which you can verify online in RBI website.

 
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Lawyer in Hyderabad.wats app no.9989324294

As the banks have to settle their 'check' accts everyday, an indexed cheque leaf is automatically rejected, if dates are mot matching. fine can be collected from the customer.

 
Reply   
 

Thank you Siva your right ...,

this case which mention below is right 

If you have given post dated cheques for EMI payable to your bank and they presented before that date and it resulted in return of cheque and debit of charges to your account, since the mistake is on the part of the bank they have to reimburse the charges.

 not EMI just cheque to company .,

is there any rbi rule since icici bank there is RBI rule for that are else  can claim to bank o or else whom to contact

 

 

 
Reply   
 
Retired Manager

Dear Mohamed,

 

Following is the rule relating to cheque return charges as per the Master Circular on Customer Service:

 

"Banks have been advised to levy cheque return charges only in cases where the customer is at fault and is responsible for such returns. The illustrative, but not exhaustive, list of returns, where the customers are not at fault are indicated in the Annex VI. In cases where the cheques need to be re-presented without any recourse to the payee, such re-presentation should be  made in the immediate next presentation clearing not later than 24 hours(excluding holidays) with due notification to the customers of such representation through SMS alert, email etc."

RBI rule can be verified by clicking on the following link:

 

http://rbi.org.in/scriptttts/BS_ViewMasCirculardetails.aspx?Id=8131&Mode=0

copy and paste the above in your browser if the above link is not working.

 

The illustrative list of cheque returns where the customers are not at fault includes the following also:

 

"Not payable till 1st proximo"

 

The list can be verified by scrolling down completely down in the RBI Master Circular and go to Annexure VI

 

The above reason says if a cheque is presented payable at a future date(proximo) and the cheque is to be returned for that reason, such return cannot be attributed to the Customer's fault.

 

Therefore, may be I am also not correct in saying that if Customer had given a post dated cheque for collection, he can be penalised. 

 

From the aboveRBI Rule, it can be deducted that it is the responsibility of the collecting bank to verify each cheque before presentation to verify whether it is normally payable as per the apparent tenor including the date of cheque.  In the event the collecting bank presents a proximo cheque which shall be returned by the paying banker, such return of cheque cannot be attributed to the Customer's fault and hence no charges for that particular cheque can be collected by the bank.

 

I cannot help the feeling that RBI could have been more clear in this regard by using correct wording instead of "proximo".

 
Reply   
 
Advocate

You have been well advised by Mr. Sivaramprasad, hope you will follow it up accordingly.

 
Reply   
 
Consultant & Legal Analyst

Well advised.

 
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