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Cheques With Alteration/Corrections Will Not Be Honored From July 1


 

Based on the above guidelines Banks clearing teams can return cheques which have any alteration in the payee name, amount in numbers and amount in words.

 

 

The only alteration which is allowed is the alteration in the date.

For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations.