Finance ministry says no proposal to withdraw cheque book facility, it is integral part of payments landscape
The finance ministry said there is no proposal to withdraw the bank cheque book facility, which is an integral part of the payments landscape.
New Delhi: The finance ministry said there is no proposal to withdraw the bank cheque book facility, which is an integral part of the payments landscape.
The clarification comes in the backdrop of reports in a certain section of media that there is a possibility that the central government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions.
This has been denied by the government and reaffirmed that there's no such proposal, it said in statement.
"The Government of India has reaffirmed that there is NO proposal under consideration to withdraw the bank Cheque Book facility," the finance ministry said in a tweet.
Post-demonetisation, the government has been pushing digital transaction with an aim to move towards less cash society.
The ministry emphasised that while the government is committed to transform India into a less cash economy and promote digital and electronic transactions, "cheques are an integral part of the payments landscape".
It said cheques form the backbone of trade and commerce, by being negotiable instruments, which often serve as the security for underlying trade transactions.
Finance Minister Arun Jaitley, in the budget speech for 2017-18, had said that as the country moves faster on the path of digital transactions and cheque payments, "We need to ensure that the payees of dishonoured cheques are able to realise the payments".
GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards
Tax rate on Amphotericin B, Tocilizumab was cut to 'Nil', while Remdesivir and Heparin was reduced to five percent in June 2021.
Union Health Secretary Rajesh Bhushan said 20 percent of India's adult population have received both doses of COVID-19 vaccine and 62 percent have got at least one dose
More than 4.49 crore (4,49,03,025) balance and unutilised COVID-19 vaccine doses are still available with the states and UTs to be administered, the ministry said.