RBI must scrap the no-cheque idea

An RBI group has come up with a bizarre suggestion: penalise the banking public for using cheques.This idea should be rejected forthwith

A couple of years ago, we, the trustees of Moneylife Foundation, went to meet Dr KC Chakrabarty, deputy governor of the Reserve Bank of India (RBI) to highlight the rampant mis-selling by banks —of insurance, hybrid financial products and credit...

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