Banks clear 7.20 lakh cheques

As many as 7.20 lakh cheques issued by the State government under its Rythu Bandhu had been encashed, at branches of select banks, since the investment support scheme for farmers was launched on May 10.

The value of the cheques cleared was a tidy ₹ 825 crore.

On Tuesday alone, the eight banks engaged for implementation of the scheme cleared three lakh cheques for ₹ 336 crore, Chief General Manager of the Hyderabad Circle of State Bank of India J. Swaminathan said.

Thursday onwards the SBI cleared 3.03 lakh cheques for a total of ₹ 337 crore, including ₹141 crore pertaining to 1.27 lakh cheques on Tuesday, he said.