Transactions by cheques down 2.6% in FY11

The value of transactions carried out through cheques declined by 2.6% to Rs 101.33 lakh crore in FY11 and only Delhi and Bangalore, among the major centres, reported a rise in value of clearances in the fiscal.

Transactions worth Rs 104.09 lakh crore were carried out in the country during the previous fiscal, as per the latest data from the Reserve Bank.

However, the total number of cheques cleared by banks across the country rose marginally by 0.4% in FY11. Over 1.38 lakh crore cheques were cleared by banks across the country last fiscal as against 1.30 lakh crore in FY10.

 

Among the major banking regions, Mumbai reported the highest value of transactions through cheques in FY11. Banks witnessed cheque transactions worth almost Rs 17.07 lakh crore in the region as against Rs 19.39 lakh crore, a decline of almost 19%.

Delhi, however, reported a rise of over 10% in transactions through cheques at almost Rs 14.40 lakh crore in FY11 against Rs 12.99 lakh crore in the previous fiscal.

In Bangalore, the value of transactions through cheques went up to Rs 4.74 lakh crore in the last fiscal from Rs 4.58 lakh crore in FY10.

But transactions saw a fall in the other major regions, Chennai, Ahmedabad and Hyderabad.

In Chennai, cheque transactions in FY11 fell by almost 13% to nearly Rs 5.50 lakh crore from Rs 6.31 lakh crore in the previous fiscal.

Transactions through cheque amounted to Rs 4.10 lakh crore in Ahmedabad in FY11, down 9.30% from the Rs 4.52 lakh crore in FY10.

In Hyderabad, the value of transactions by cheque went down by 5.2% to Rs 3.32 lakh crore in the last fiscal compared to Rs 3.51 lakh crore in FY10.

Among smaller regions, Bhubaneshwar, Chandigarh, Jammu, Patna and Jaipur saw a growth in cheque transactions in FY11, while the figures in Bhopal, Guwahati, Kanpur, Nagpur and Thiruvananthapuram witnessed a dip.