This is with regard to recent guidelines issued by Reserve Bank of India on alterations or corrections on payment instruments ( cheques ) vide RBI Circular DPSS CO CHD No 1832/1.07.05/2009 -10 dated 22nd Feb 2010.
As per the guidelines
Customers are no longer allowed to alter the Amount or Payee name while issuing a chequeCheques with such corrections will no longer be honoured effective 1st July 2010All are advised to issue fresh cheques in case they need to make corrections. Customers need to know that cheues with alterations or corrections ( despite having their signatures next to them) will no longer get cleared by banks after 1st July 2010
