Collection of account payee cheques – Prohibition on crediting proceeds to third party accounts

Last updated: 30 March 2011

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Collection of account payee cheques Prohibition on crediting proceeds to third party accounts RBI/2010-11/452 UBD. BPD. No. 41/12.05.001/2010-11 March 29, 2011 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir, Collection of account payee cheques Prohibition on crediting proceeds to third party accounts Please refer tocircular UBD.BPD. Cir. No. 30/14.01.062/2005-06 dated January 30, 2006advising UCBs that they should not collect cheques crossed acco

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Notification No : UBD. BPD. No. 41/12.05.001/2010-11

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