Why Are Cheques and Drafts Only Valid for 3 Months Now? Understanding RBI's Rule Change

jagdish.pathak

As per the RBI notification i.e. 'RBI/2011-12/288' circulated on Dt. 02.12.2011, all cheques, drafts, pay orders, and banker's cheques presented will be valid for 3 months with effect from April 1, 2012. Please find attached the notification for your reference.

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