Validity of Cheques,draft,payorder,banker’s cheque reduced to three months from April 1 2012

Usually in India Bankers accepts cheques, demand drafts, pay orders banker’s cheques for six months from the date of issue. This gives some benefits to customers like issuing postdated ...
Ac payee only

Account payee crossing is mandatory for demand draft Rs 20000/- and above

Reserve bank of India advised all scheduled commercial banks to mark account payee crossing for all demand draft  amounting Rs 20000/- (Rupees  twenty thousand )and above. This has ...

RTGS limit increased to 2 Lakhs w.e.f 15.11.2010

Reserve bank has notified an increment of RTGS threshold limit from 1 lakh to 2 lakh with effect from 15.11.2010. This has decided in consultation with participating bank in RTGS System. ...

Cheque cannot altered or corrected wef-01-12-2010 as per RBI notification

As a part of implementing cheque truncation in India, Reserve bank of India in has decided not to accept cheque with alteration or correction for clearing. Altered cheques will start ...

Cheque truncation- CTS or image based clearing system –ICS in India

Modern business demands faster cheque clearing system to meet immediate financial requirement and to make faster payments. Keeping this in mind Reserve bank of India has introduced ...

How to revalidate demand draft and pay order

Demand draft is valid for six months from the date of issue where as Pay order has a validity of three months. Demand drafts are printed with “Valid for Six months only” and ...

How to get a duplicate demand draf and pay order ?

Can we get a duplicate DD or PO if we lost the original one? The answer is yes, but you have to follow a little difficult process. The procedures for a duplicate Demand draft and pay ...

What is previlege or preferred banking?

After launching private banking in India the face of banking is changed rapidly in terms of cutting edge technology and services. To provide best services to the selected customers, ...

What is a Pay order or Banker’s Cheque ?

digg_url = 'www.accountinghead.com/wp-content/diggbutton/diggsubmit.gif'; Pay order is an instrument that a banker issues after receiving funds from customer hence the payee assured ...

R.T.G.S- Real time gross settlement, The fastet way of money transfer.

One of your company branches in another Location urgently requires sum of Rs 100000.00, with in three to four hours. What will you do? Since your branch is far away it is impossible ...
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