State Bank of Indias (SBI) joint venture (JV) - SBI Card has started charging Rs 100 for payment through cheque if the amount is up to Rs 2,000. The fee kicks in from April 1. The move is aimed at encouraging digital payments in line with the governments policy.
However, there will be no additional fee for cheque payments greater than Rs 2,000.
SBI Card is a joint joint venture between State Bank of India and GE Capital. The joint venture operates through two companies.