Cheque transactions up 2.5 pc in Feb – RBI

Cheque transactions worth over Rs 7.97 lakh crore were carried out in the country during February, 2011, a growth of over 2.5 per cent from the same month last year.Banks had cleared cheques worth over Rs 7.77 lakh crore in February 2010, as per the latest data from the Reserve Bank.

A total of 1,080.9 lakh cheques were cleared by the banks in February this year. This was marginal rise of 0.43 per cent over the figure of 1,076.3 lakh in the corresponding month of 2010.

During the April-February period of the last fiscal, banks in the country witnessed transactions worth over Rs 91.16 lakh crore through cheques, it said.