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Saturday, November 19, 2011

Cheques and Demand Drafts will be valid for only 3 months of issue

From next year all the bankers cheques , demand Drafts and pay orders will only be valid for next 3 months from the date of issue. It will be expired and become invalid if you dont use it within limit period of 3 months. As of now this limit is 6 months , but from April 1 , 2012 this is going to change.

Reserve Bank of India said that this move was intended to stop the misuse of the six-month validity period by ‘some persons’ who were circulating such instruments in the market like cash

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Apr 07
20:00 Fed's Kugler speech 2
20:00 Bank of Canada Business Outlook Survey 2
21:00 3-Month Bill Auction 1 4.175% 4.205%
21:00 6-Month Bill Auction 1 4.00% 4.07%
Tuesday, Apr 08
00:30 Consumer Credit Change 1 $-0.81B $15.20B $18.08B
03:30 NZIER Business Confidence (QoQ) 2 16%
04:31 BRC Like-For-Like Retail Sales (YoY) 2 0.9%
07:00 National Australia Bank's Business Confidence 1 -1
07:00 National Australia Bank's Business Conditions 1 4
11:15 Unemployment Rate s.a (MoM) 1 2.7%
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