Authenticity of RBI rules on dishonored cheques with commercial bank

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To
Finance Minister / Finance Secretary
secy-fs@nic.in
PSU Banks must be stopped from taking autocratic decisions at their whim and deliberately cause financial losses to bank customer. they should not be allowed to breach RBI RULES AND REGULATIONS ,
As another example, PSU banks also do not follow RBI guidelines for local cheque clearing delays. Such delays make the customer to lose one month interest on the amount deposited when the crediting of the amount is done after the monthly cut off date for calculation of interest, like 5th of the month for PPF deposit and 10th of the month for SB interest. more  
Feb 12
these banks are made all powerful without control. Even RBI protects them , i mean all departments of RBI protect PSU Banks. Your matter is of delay , My matter is of holding dishonored cheques that were given to me as payment by a company. the bank has not returned me the cheques since 2007 and still holding them. The bank neither tried to recover payment from the Drawee nor let me recover cheque amount deliberately of huge amount of Rs. 60 lacs. more  
Feb 19

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