RBI makes alternative arrangements for clearing cheques

AHMEDABAD: In the wake of a two-day nationwide strike of public sector banks the Reserve Bank of India (RBI) office has made alternative arrangements for clearing cheques in few cities here.

"The RBI has ensured that leading private sector banks in three cities of the state--Vadodara, Surat and Rajkot- will undertake clearing house operations during the period of strike," sources in RBI clearing house said.

"The regional RBI office will handle the clearing of cheques in Ahmedabad that was otherwise done by the Bank of Baroda," the sources added.

"A similar arrangement for the clearing of cheques is being worked out for the remaining cities too," a senior RBI official said.