PUDUCHERRY: The Chamber de Commerce, Puducherry, has accused several banks of refusing to accept cheques temporarily, causing confusion and hardship during the Diwali festive and peak business season. In a letter to the RBI chief general manager, Chamber de Commerce vice president L P Ravi said that despite the recent RBI directions mandating same-day cheque clearance to facilitate smoother banking transactions, cheques were not cleared for the entire week. "Further, several banks have reportedly informed customers that they received directions from RBI not to accept cheques temporarily, which has caused great confusion and hardship. This development, coinciding with the Diwali festive and peak business season, is causing severe disruption to trade, payments and daily transactions," he said in the letter. Ravi requested the RBI to clarify immediately whether such instructions were issued to the banks to stop accepting cheques or clear them. "The delay in clearing cheques is adversely affecting business commitments, vendor payments and customer confidence. An immediate intervention from the RBI is essential to restore normal banking operations," he said in the letter.
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