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.
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.