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of <h1>Mandatory Electronic Repayment for Loans and Deposits Over ₹20,000 Under Specified Rules</h1> No banking company branch, co-operative bank, company, co-operative society, firm, or person shall repay any loan, deposit, or specified advance of twenty thousand rupees or more except by account payee cheque, bank draft, electronic clearing system, or other prescribed electronic modes in the name of the lender or depositor. Repayments by banking companies or co-operative banks may also be made by crediting the amount to the borrower's or depositor's account with the same branch. Exceptions apply for loans or deposits from government entities, certain financial institutions, corporations established by statute, government companies, or notified bodies. For primary agricultural credit societies and rural development banks, the threshold is two lakh rupees. The provisions aim to prevent tax evasion by mandating traceable repayment modes for substantial amounts.
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