Frequently Asked Questions(FAQ's) on Speed Clearing.

Frequently Asked Questions(FAQ's) on Speed Clearing.

Reserve Bank of India, has recently released the latest Frequently Asked Questions(FAQ's) on Speed Clearing.

The  Frequently Asked Questions(FAQ's), are comprehensive and simple to understand.

Hence, I will not attempt to re-invent the Wheel.

The Frequently Asked Questions(FAQ's) on Speed Clearing, can be accessed @
http://rbi.org.in/scripts/FAQView.aspx?Id=72

However, I wish to mention a few points, for faster realization of  your Cheques.

01) Ensure that the cheques issued in your favor are in the same style as the title of your bank account.
For eg: My name in my Bank Account is Nayakanti Prashant, hence, in all the cheques I take, I ensure that the Payee Name is written as  ''Nayakanti Prashant''.

02) Ensure that your bank account number is mentioned next to your name on the cheque.

This minimizes the chances of fraudulent alteration of the Payees name on the cheque, in case it is misplaced/lost

Eg: Pay  Nayakanti Prashant a/c 556010008350

Of course, the best way to receive funds in lieu of cheques are RTGS/NEFT. However, this might not be possible, when a Post-dated cheque is part of the transaction.