No move to ban cheques: Ministry of Finance

New Delhi: The finance ministry on Thursday denied reports that the Modi government is going to ban cheque book facility in coming days to encourage digital transactions in the country.  “The government of India has reaffirmed that there is no proposal under consideration to withdraw the cheque book facility,” said the finance ministry in a Tweet.  The report had created panic among some businesses on how big transactions will be done if there is no other alternative set up before banning  the cheque books.

Many businesses depend on cheques for their day-to-day business.  “It  had appeared 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,” said the finance ministry in a tweet.