What changed
RBI observed that many RRB branches were compelling customers to drop cheques in drop boxes and refusing counter acknowledgement. The circular mandates that branches must accept cheques at counters and provide acknowledgement if requested. Drop boxes remain optional, not mandatory.
What it means for you
Branches must maintain both drop box and counter service for cheque deposits. Refusing counter acceptance is a violation and can lead to customer complaints to Banking Ombudsmen. The notice on the drop box must be in English, Hindi, and the regional language to ensure informed choice.
What you must do
- Ensure all branches accept cheques at counters and provide acknowledgement on pay-in-slips when requested.
- Display a trilingual notice on every cheque drop box stating customers can also tender cheques at the counter for acknowledgement.
- Train staff not to direct customers exclusively to drop boxes; both options must be offered.
- Review branch practices to eliminate any compulsion to use drop boxes.
Who it affects
All Regional Rural Banks (RRBs), RRB branch managers and staff, RRB customers depositing cheques
Can a branch refuse to accept a cheque at the counter if a drop box is available?
No. RBI explicitly prohibits refusal. Customers must have the choice to tender cheques at the counter and receive an acknowledgement.
What languages must the notice on the drop box be in?
The notice must be displayed in English, Hindi, and the concerned regional language of the state.
What happens if a branch forces customers to use the drop box?
It violates RBI instructions and may lead to complaints to the Banking Ombudsman. Banks should ensure compliance to avoid regulatory action.