Cheques/Drafts/Pay Orders/Banker’s Cheques validity limited to 3 months

The Reserve Bank of India issued a notification on Friday saying that from April 1, 2012, banks, drafts, pay orders and bankers’ cheques will have to be presented within three months of the date of issue of these instruments.

The change has been prompted by instances of misuse of the payment instruments.

Banks have been instructed to print the change on the cheque leaves and drafts that will be issued from April 1, 2012

Ref: http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=6805&Mode=0

Searching…
Advertisements

One thought on “Cheques/Drafts/Pay Orders/Banker’s Cheques validity limited to 3 months

  1. Pingback: E-bike

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s