The Finance Ministry on Thursday denied any proposal of banning chequebooks stating that how they are a relevant composition of payments landscape. "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. Earlier, there was a buzz that the government might be working on another radical reform to push digital transactions. A senior functionary of the Confederation of All India Traders (CAIT) on November 16 said the Centre might withdraw the bank cheque book facility in the "near future" to encourage digital transactions. According to officials from the ministry of electronics and IT, the ministry is taking proactive measures to promote the growth of digital transactions.

Source: dna November 24, 2017 07:24 UTC