The cumulative value of transactions carried out through cheques across the country during June, 2011, amounts to Rs 7.19 lakh crore, a 13.9% decline vis-a-vis the year-ago period, according to new RBI data.
Banks had cleared cheques worth Rs 8.35 lakh crore in June, 2010, according to the latest data from the Reserve Bank of India.
The total number of cheques cleared by banks across the country during June, 2010, was also 3.8% less than in the same month last year.
A total of 10.62 crore cheques were cleared by banks during the month under review, compared to over 11.04 crore in the corresponding month of 2010.
During the April-June quarter, the total value of the transactions carried out using cheques stood at Rs 24.06 lakh crore, as against Rs 25.17 lakh crore in the first quarter last fiscal, a fall of over 4.4%.
In addition, a total of 32.61 crore cheques were cleared by banks during the first quarter of the current fiscal, a decline of almost 3.8% from 33.90 crore in the April-June period a year-ago.
In June, the Mumbai region reported the highest number of cheque clearances, as well as the maximum transaction value for any zone.
Banks in the Mumbai region cleared a total of 1.95 crore cheques, with a cumulative value of over Rs 1.28 lakh crore.
In the Delhi region, banks reported that 1.27 crore cheques with a total value of a little over Rs 1.06 lakh crore were cleared in June.
The Bangalore region stood third in terms of both the parameters. Banks in the region reported a total 55.4 lakh cheque clearances worth over Rs 39,700 crore, it added.
The fall in the value of transactions through cheques in June, 2011, is in line with the trend of the previous fiscal. However, the numbers went up marginally in April this year.
The value of cheque transactions in the country declined by 2.6% year-on-year to Rs 101.33 lakh crore in FY11. Delhi and Bangalore were the only major centres to report a rise in the value of clearances last fiscal.
However, the total number of cheques cleared by banks across the country grew 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.
