Issue of Demand Drafts for Rs. 20,000/- and above

  DBOD.BP.BC. No. 49/21.01.001/2011-12 As banks are aware, instruments with account payee crossing are required to be credited to the payee’s account and not paid in cash over the counter. However, some unscrupulous elements use demand drafts without any crossing for transfer of money as an alternative to settlement through cash.   2. In order toContinue reading “Issue of Demand Drafts for Rs. 20,000/- and above”

Collection of account payee cheque – Prohibition on crediting proceeds to third party account

  Ref: DBOD.BP.BC No. 56 / 21.01.001/ 2005-06 Collection of Account Payee Cheques –Prohibition on Crediting Proceeds to Third Party Account   Please refer to our circular DBOD.BP.BC.No.56/21.01.001/2005-06 dated January 23, 2006 in terms of which banks are prohibited from crediting ‘account payee’ cheques to the account of any person other than the payee named therein.   2.Continue reading “Collection of account payee cheque – Prohibition on crediting proceeds to third party account”

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 beenContinue reading “Cheques/Drafts/Pay Orders/Banker’s Cheques validity limited to 3 months”

Management lesions from freedom struggle

We recently celebrated Indian Independence Day on 15 August. I cherish the freedom and celebrate Indias growth towards global recognition. Going back in history, Indian freedom struggle lasted nearly a century. The last 25 years of the struggle was lead by Mahatma Gandhi on the concept of non-violence. India is one of the unique countriesContinue reading “Management lesions from freedom struggle”

Top 10 Ways to Seem Smarter Than You Are‏

We all want to seem smart around workmates and acquaintances, but we often dont have the time to put in to further study to achieve this. Luckily, there are a few ways you can make yourself seem smarter with a minimum of effort. This is a list of the ten best tips for appearing smarter.Continue reading “Top 10 Ways to Seem Smarter Than You Are‏”

Organized Outdoor Dining Tips‏

Now that summer is here, my family and I have been eating outside on our deck for the past few weeks…how nice it is to eat outdoors, listen to the birds singing, and enjoy quality family conversation–all at the same time! To stay organized for outdoor dining… 1.Check the weather. Don’t take chances on beingContinue reading “Organized Outdoor Dining Tips‏”