RBI/2011-12/237
DNBS(PD).CC. No 248/03.10.01 /2011-12
October 28 , 2011
All Non Banking Financial Companies /
Residuary Non Banking Companies
Dear Sir,
Implementation of Green Initiative of the Government
As part of the ‘Green Initiative’ of the Government, the Government of India has suggested that steps be taken by entities in financial sector, including NBFCs to help better utilisation of their resources and also better delivery of services.
2. NBFCs are therefore, requested to take proactive steps in this regard by increasing the use of electronic payment systems, elimination of post-dated cheques and gradual phase-out of cheques in their day to day business transactions. These will result in more cost-effective transactions and faster and accurate settlements.
Yours faithfully,
(Uma Subramaniam)
Chief General Manager-in Charge
