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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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