The Reserve Bank of India (RBI) has mandated that with effect from 01 April 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.
Accordingly, any such instrument issued on or after 01 April 2012 will be valid for payment only up to a period of three months. Kindly make note of this regulatory change in banking practice.
