Jagran Correspondent, New Delhi. Thousands of crores of rupees in Delhi’s wholesale markets are stuck due to non-payment of checks during Diwali and festive season. This raised the concern of businessmen. Delhi Hindustani Mercantile Association (DHMA) has also written a letter in this regard to the RBI Governor demanding a solution to the problem. According to traders, this not only affects the business, but together with the salary and rent payment of the employees, the expenditure on other items has also stopped. This problem arose because of the new check settlement system. It was implemented demanding check payment within a few hours or a day, while checks have not been sent since its implementation. Delhi Hindustani Mercantile Association (DHMA) has also written a letter in this regard to the governor of the Reserve Bank of India (RBI) demanding a solution to the problem. According to Shri Bhagwan Bansal, General Secretary of the DHMA, this problem has continued since October 4. This problem remains in various branches of Chandni Chowk alone. More than Rs 10 crore from textile traders alone could get stuck. As a result, traders are unable to pay each other on time, and therefore orders must also be cancelled. Vinay Narang, president of Automotive Parts Merchants Association (APMA), said that Diwali will be marred by non-payment of cheques. Employees’ salaries, bonuses and payments from customers stopped. Orders are canceled due to non-payment to companies. In this regard, people associated with the bank say that along with problems in the new system, there are many other reasons for delay in processing cheques. Efforts are being made to remove it.
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