16/10/2025
Cheques Across India Not Clearing — Financial Paralysis, Losses in Thousands of Crores
For the past week, cheque clearance in India has collapsed. Payments that should clear in 24 hours are now stuck for 10+ days. Banks tried to launch a new same-day clearance system—and it crashed nationally.
This crisis has hit during Diwali, when businesses and individuals rely heavily on timely payments. Working capital is frozen, deals are delayed, penalties are mounting, and people are being forced to scramble.
The financial damage is massive—easily running into ₹5,000 to ₹10,000 crore, if not more.
Worse, citizens are being pushed to use RTGS and NEFT to make payments—but these come with extra charges. Why should people pay to access their own money because of the system’s failure?
This is not a glitch. It is a systemic breakdown caused by poor planning and zero accountability. Until cheque clearance is fully restored, RTGS and NEFT must be made free.
The media must wake up. Citizens deserve urgent attention, transparency, and corrective action—not silence.
Awaz-E-Punjab