RBI TO REDUCE VALIDITY OF CHEQUES.
Beginning next financial year,2012-13,RBI reduced the validity of cheques and bank drafts from the present six months to three months from 1st April,2012.

Reserve Bank of India may review the interest rates on lending in its review on 24 th January,2012 as the higher interest rates on borrowing is hampering industrial growth. RBI increased the interest rates 13 times in 10 months last year to curb inflation.