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