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For how long the cheques, Drafts, Pay Or...

For how long the cheques, Drafts, Pay Orders and Bander's Cheques are valid from the date of instrument?

A

4 month

B

1 month

C

6 months

D

3 months

Text Solution

Verified by Experts

The correct Answer is:
D

In ecercise of the powers conferred by Section 35 A of the Banking Regulation Act, 1949, Reserve Bank of India directs that with effect froth April 1, 2012, banks should not make payment of cheques/drafts/pay orders/ banker's cheues bearing that date or any subsequent date, if they are presented beyond the period of three months from the date of such instrument.
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