Cheques ‘out of stock’ is the new demonetisation effect

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Mangaluru: Heard about cheque bounce or cheque return, but have you ever heard of cheques going out of stock?

Well, two month of demonetisation has cropped up an array of problems for common man to tackle and the latest one seems to be cheques going out of stock.

With pangs at the ATMs continuing, when a customer went to the branch of one of the nationalised banks in the city and demanded for 10 cheque leaves, all that the customer was given was a reply – ‘Wait for a Week!’

The customer, on conditions of anonymity said that the Manager told him that since the cheques are in high demand, there has been a shortage in its supplies. It is said that, since many are not compatible using the ATMs in this chaotic situation, the dependence of individuals as well as business houses on usage of cheques has multiplied many folds. “We have placed our order with the press, they need a week or two to supply our requirement,” the manager said.

spoke to one of the higher officials at a security printing press based in Karnataka who said that there is six to seven per cent increase in demand for cheques post-demonetisation. He assured that efforts are on to supply the cheques in required quantity to the banks.

 

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