What changed
RBI directed all state and central co-operative banks to stop compelling customers to drop cheques in drop boxes. Banks must now offer both drop box and counter acknowledgement options, with a trilingual notice on the drop box itself.
What it means for you
Banks must ensure customer choice is not restricted—counter service for cheque tendering with acknowledgement is mandatory. Non-compliance could lead to customer complaints and regulatory action. This reinforces customer protection norms in banking operations.
What you must do
- Immediately stop any practice of forcing customers to use cheque drop boxes.
- Ensure all branches provide counter-based cheque acceptance with acknowledgement on pay-in-slips.
- Display a trilingual notice (English, Hindi, regional language) on each cheque drop box stating customers can also tender cheques at the counter.
- Train branch staff to inform customers of both options and never refuse counter acknowledgement.
- Acknowledge receipt of this circular to your respective RBI Regional Office.
Who it affects
All State and Central Co-operative Banks, Branch managers and customer-facing staff, Customers depositing cheques at bank branches
Can a bank branch still offer a cheque drop box?
Yes, but it must be optional. Customers must always 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 regional language of the state where the branch is located.
What if a branch refuses to give an acknowledgement at the counter?
That would violate RBI's directive. Customers can complain to the bank or the Banking Ombudsman, and the bank may face regulatory action.