Worries in attestation clause are two: 1. risk of theft and misuse;
It can be easily tackled by safe custody which is the responsibility of customer anyway when it comes to credit card etc. and issuing stop payment instruction immediately upon such an occurrence. It should be weighed against forgery which would be prevented effectively by attestation clause and ease in passing cheques by bank officials without leniency etc. 2. Something enterim becoming permanent in India. Well, it is the fault of system, and biometric technology may take much longer to be universally installed and used than is being envisaged here. And, even if a beneficial measure is firmly entrenched, we may gradually drag it out in favor of ease of other technology which will be eventually realized by one and all. Many detrimental practices have gained firm ground in indian system, many enterim measures like reservations for Certain casts have become "basic structure" of polity, so to say! So even if attestation becomes firmly rooted, at least it is not going to harm us. I am sure biometric technology would eventually phase it out. To sum up, twin advantages of preventing forgery by combating inconsistency of signature and relieving bankers of unnecessary anxiety about accounts of VI, do outway harms of possible theft and permanence of practice which may be forestalled by stop payment instructions in first case and enlightened petitions in later. Forgery on one hand is clearly liability of bankers from which they endeavor to save their skin and largely undetectable unless it has already caused damage, unlike theft which comes to notice of owner easily and with preventable damage. Rest I leave to you all, but please do not misinterpret me or assume that I merely write for semantic jugglery and merit only the slightest consideration, if at all!!! I am, at present unaware of any other objections to my suggestion as those having them have chosen not to enlighten me about them, if put publicly on this list or mailed to me in private, I will be in a position to endeavor to answer them only when the stipulated time would have expired, as I am leaving for weekend. Rajesh -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Pamnani Sent: Friday, July 04, 2008 4:37 PM To: [email protected] Subject: [AI] Bank Guidelines Hi Friends, I have incorporated most of the suggestions. There is one issue on which I want some brain storming. This is regarding cheques issued by the visually impaired. In the general guidelines I have suggested that banks should introduce biometric verification or seals etc. Now to be honest most banks dont have a system to verify at present and cannot do so for atleast 6 months. So what do we do in the interim for cheques which have thumb impression and for cheques on which signature does not tally. I had said there should be some leniency during verification. I have received a suggestion from one member that banks should be asked to attest our signature or thumb impression when they give us our cheque book. So the empty chequeswith only our signature and the attestation will be lying with us. The worry is that we can lose the cheque book and that someone can fill up details and withdraw from our account. The other problem is that our cheques look different and that all banks would insist on it. If we do think of attestation then it will be as an interim measure until biometric. You all know in India to get this attestation out of the system it will take 5 yearts and something which is interim will become permant. So should I put in this attestation clause or leave it now and let the IBA suggest it if necessary and deal with it then? Need feedback by 9.30 am Monday morning. Come on lets start the debate. Kanchan Kanchan Pamnani Advocate & Solicitor 9, Suleman Chambers, Battery Street, Colaba, Mumbai - 400 039. Join Access India convention: For updates on it visit: http://accessindia.org.in/harish/convention.htm To unsubscribe send a message to [EMAIL PROTECTED] with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in Notice: The information contained in this e-mail message and/or attachments to it may contain confidential or privileged information. If you are not the intended recipient, any dissemination, use, review, distribution, printing or copying of the information contained in this e-mail message and/or attachments to it are strictly prohibited. If you have received this communication in error, please notify us by reply e-mail or telephone and immediately and permanently delete the message and any attachments. Thank you Join Access India convention: For updates on it visit: http://accessindia.org.in/harish/convention.htm To unsubscribe send a message to [EMAIL PROTECTED] with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in
