According to me yes the UDBI Bank will pay compensation in Outstation Cheque clearing and here I will let you know more about cheque policy of bank.

Here are the content which come under file
1 Introduction
2 Objectives of the Policy
3 Scope of the Policy
4 Explanation of Various Terms used in Policy
5 Standardization and Enhancement of Security Features in Cheque Forms: CTS-2010 Standards
6 Arrangement for Local Cheque Collection through Clearing
7 Arrangement for Local Cheque Collection through Clearing in centres where clearing house is not available
8 Arrangement for Local Cheque Collection through Speed Clearing
9 Arrangement for Inland Outstation Cheques for Collection(IOCC)
10 Suo Moto Payment of Compensation on delayed collection of IOCC
11 Immediate Credit of Local and Outstation Cheques
12 Collection of Account Payee Cheque- Prohibition on Crediting Proceeds to Third Party Account
13 Payable at Par (PAP) Cheques
14 Payment of Compensation for delay in Clearance of Local Cheques
15 Arrangement for Foreign Cheque for Collection
16 Cheques/ Instruments lost in transit/ in clearing process/ at paying bank’s branch
17 Responsibility of the Bank
18 Responsibility of the Customer
19 Force Majeure
20 Customer Grievances Redressal

For full information lease check the file

Cheque Collection Policy





Address:-
IDBI Bank
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005.

Phone:-
1800-200-1947
1800-22-1070

Attached Files

Cheque Collection Policy.pdf (177.2 KB, 105 views)