Mumbai: Transactions worth over Rs 7.97 lakh crore by cheques were carried out during February 2011 registering a growth of over 2.5 percent against the same month last year

According to the latest data released by the Reserve Bank of India, banks had cleared cheques worth over Rs 7.77 lakh crore in February 2010.

A total of 1,080.9 lakh cheques were cleared by the banks in February this year. This was marginal rise of 0.43 percent over the figure of 1,076.3 lakh in the corresponding month of 2010.

During the April-February period of the last fiscal, banks in the country witnessed transactions worth over Rs 91.16 lakh crore through cheques, it said.

While the exact data for the first 11 months of 2009-10 was not given by the RBI, in the May-February period (10 months) of that financial year the total transactions by cheques had stood at over Rs 83.15 lakh crore.

In February, the Mumbai region reported the highest number of cheque clearances. Banks cleared a total of 193 lakh cheques with a value of over Rs 1.29 lakh crore, it said.

This was followed by Delhi region which reported 127 lakh cheques being cleared with a total value of Rs 1.05 lakh crore. In third place was the Chennai region with 62.2 lakh cheque clearances worth almost Rs 46,000 crore, it added.