Mar 17, 2012
Cheque validity reduced to 3 (three) months
The Reserve Bank of India in a recent circular has directed that with effect from April 1, 2012, banks should not make payment of cheques /drafts / pay orders / banker’s cheques if they are presented beyond the period of three months from the date of such instrument. Its worthy to make note of the above guidelines. Cheques/drafts/payorder/bankers cheques issued on and after 1st April, 2012 will be valid only for a period of three months. However, please note that the instruments which are issued prior to 1st April. 2012 will remain valid for 6 months from the date of issue.