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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, Jun 16
21:00 6-Month Bill Auction 1 4.155% 4.150%
21:00 3-Month Bill Auction 1 4.24% 4.25%
22:30 20-Year Bond Auction 1 4.942% 5.047%
Tuesday, Jun 17
04:15 Food Price Index (MoM) 1 0.5% 0.8%
18:00 Retail Sales (YoY) 1 5.2%
18:00 Retail Sales ex Autos (MoM) 2 0.1% 0.1%
18:00 Retail Sales Control Group 3 -0.2%
18:00 Retail Sales (MoM) 3 -0.7% 0.1%
18:00 Foreign Portfolio Investment in Canadian Securities 1 $-2.94B $-4.23B
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