Wednesday, November 16, 2011

Validity of Negotiable Instruments w.e.f 01-04-2012

w.e.f. 01.04.2012 - Commercial Banks will not make payment of cheques/drafts/pay orders/banker's cheques if presented beyond the period of three (3) months from the date on such instrument.


i.e., The validity period of negotiable instruments is reduced from 6 months to 3 months, w.e.f. 01.04.2012.

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