There is no proposal to withdraw cheque books from banking system, clarifies Finance Ministry
Although the government may be committed to making India a cashless economy, ‘cheques are an integral part of the payments landscape’, it said.
The Finance Ministry on Thursday clarified that the government was not considering any proposal to withdraw cheque books from the banking system. The clarification comes days after reports that the Centre was mulling over doing away with cheque books as part of efforts to push for digitisation.
“It is emphasised that while the government is committed to transform India into a less cash economy and promote digital and electronic transactions through multi-pronged initiatives, cheques are an integral part of the payments landscape,” the ministry said.
It had appeared in a certain section of media that there is a possibility that the Central Govt may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions.This has been denied by the Govt & reaffirmed that there's no such proposal
— Ministry of Finance (@FinMinIndia) November 23, 2017
The Centre has been encouraging people to opt for digital transactions over making cash payments. This drive for a cashless India began after the government’s demonetisation move.
