The discussion paper on Disincentivisation of cheques issued by RBI has indicated a hard policy push towards use of E Banking in the form of Internet Banking and ATM.

Many of the Cooperative Banks and Regional Rural Banks may not have Internet Banking facility at present. With what RBI implies, these Banks have to quickly introduce internet banking since the customers of the Bank will find it difficult to issue or receive cheques from their own clients since this will introduce a higher cost element to the transactions.

This will be a serious challenge not only to the IT departments but also the manpower training departments of these Banks to ensure that the Banks are adequately prepared for the change. If they delay the transition, their business may suffer.