Consider these 9 things before investing in mutual funds!
What is the right way to invest in mutual funds? How do mutual funds work? What kind of risk is involved? Which fund is right for whom? What things should be kept in mind before investing? Watch this video to know-
Were you planning to show up at an SBI branch office to get a cheque canceled in the current pandemic? Hold on!
An increasing push for digital services has been observed across sectors in recent times. The banking supremo, State Bank of India (SBI), has ensured its facilities reach the household of each customer to avoid any hassles during the ongoing health emergency.
Cheque cancellation is a rather frequent phenomenon observed amongst customers. You may have to avail of it in case a wrong amount was mentioned on the leaflet or you planned to cancel the order right after issuing the cheque. Sometimes, the balance in the account may have been withdrawn for emergency use leading to a cheque bounce. In all these cases and more, customers like to cancel the payment issued through cheque.
SBI now offers a very easy option to stop the payment of any cheque sitting at home. Customers can execute online cheque cancellation either through net banking, SBI YONO, or the SBI YONO Lite app. For the app, your mobile number must be duly registered with the bank as the one-time-password (OTP) is sent for verification purposes.
SBI customers can follow these simple steps to stop payment requests with the bank as and when required.
SBI Internet Banking
-Visit onlinesbi.com.
-Go to the ‘e-Services’ section and select the ‘stop cheque payment’ option from the top.
-Select the account from which the cheque was issued.
-Now you’ll be asked to provide ‘start cheque number’ and ‘end cheque number’.
-Select the type of cheque after entering the above details.
-Give a reason to stop cheque payment. You can choose a reason from a drop-down list under the ‘stop reason’ option.
-Cheque cancellation charges, that be deducted from your account separately, will now be visible on the screen.
-Tap on ‘submit’ and then verify the details of your request.
-Select ‘confirm’ if everything seems alright.
-Once the request is raised, you will receive a message on your screen stating the reference number and other important details.
-You can note these details for future reference.
SBI YONO App
-Download the SBI Yono App
-Log in to the app using verified credentials
-Tap on ‘Requests’ and then select ‘Cheque Book’ and then ‘Stop Cheque’.
-Click on the account number from the dropdown list.
-Enter the start cheque number (mandatory) and end cheque number
-Select the type of cheque
-Select the stop reason which is a mandatory step.
-Tap on ‘Submit’.
-Provide the OTP received on your mobile and the particular cheque(s) will be stopped.
Meanwhile, the country’s largest lender bank also announced the ‘positive pay system’ for securing cheque transactions. This is a double authentication process to verify details related to any cheque payment that is above Rs 50,000. This new cheque payment rule was brought into effect by the Reserve Bank of India on 1 January 2021.