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Payment of Cheques/Drafts/Pay Orders/Banker's Cheques
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Payment of Cheques/Drafts/Pay Orders/Banker's Cheques

Reserve Bank vide its communication dated RBI/2011-12/251DBOD.AML BC.No.47/14.01.001/2011-12  dated November 4, 2011 has issued instructions that 
"In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, Reserve Bank hereby directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that date or any subsequent date, if they are presented beyond the period of three months from the date of such instrument".
Presently the period of payment of demand draft /cheques/payorders/Banker's cheques  is six months from the date of instrument. 
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Saraswat-Bank
Saraswat-Bank