{"id":17677,"date":"2012-03-02T15:55:12","date_gmt":"2012-03-02T10:25:12","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=17677"},"modified":"2012-03-02T15:55:15","modified_gmt":"2012-03-02T10:25:15","slug":"validity-of-cheques-to-be-reduced-to-3-months","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/validity-of-cheques-to-be-reduced-to-3-months","title":{"rendered":"Validity of cheques to be reduced to 3 months"},"content":{"rendered":"<p><a href=\"https:\/\/www.legalindia.in\/news\/validity-of-cheques-to-be-reduced-to-3-months\/validity-of-cheques-to-be-reduced-to-3-months\" rel=\"attachment wp-att-17678\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"17678\" data-permalink=\"https:\/\/www.legalindia.com\/news\/validity-of-cheques-to-be-reduced-to-3-months\/validity-of-cheques-to-be-reduced-to-3-months\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/Validity-of-cheques-to-be-reduced-to-3-months.jpg?fit=284%2C178&amp;ssl=1\" data-orig-size=\"284,178\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Validity-of-cheques-to-be-reduced-to-3-months\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/Validity-of-cheques-to-be-reduced-to-3-months.jpg?fit=150%2C94&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/Validity-of-cheques-to-be-reduced-to-3-months.jpg?fit=284%2C178&amp;ssl=1\" class=\"alignright size-full wp-image-17678\" src=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2012\/03\/Validity-of-cheques-to-be-reduced-to-3-months.jpg?resize=284%2C178&#038;ssl=1\" alt=\"\" width=\"284\" height=\"178\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/Validity-of-cheques-to-be-reduced-to-3-months.jpg?w=284&amp;ssl=1 284w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/Validity-of-cheques-to-be-reduced-to-3-months.jpg?resize=150%2C94&amp;ssl=1 150w\" sizes=\"auto, (max-width: 284px) 100vw, 284px\" \/><\/a>The government on Wednesday said the Reserve Bank has decided to reduce the validity of cheques and bank drafts from the present six months to three months beginning next fiscal.<\/p>\n<p>The Reserve Bank of India (RBI) has advised that with effect from April 1, 2012, banks should not make payments against cheques, drafts, pay orders or banker&#8217;s cheques if they are presented after the period of three months from date of issue, the Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha on Tuesday.<\/p>\n<p>&#8220;It was reported to Central Economic Intelligence Bureau (CEIB) that some persons are taking undue advantage of the practice of banks of making payment of cheques or draft presented within a period of six months from the date of the instrument as these instruments are being circulated in the market like cash for six months,&#8221; he said.<\/p>\n<p>Subsequently, CEIB constituted an Inter-Ministerial Group (IMG) on &#8216;Street Financing&#8217; which recommended reducing the validity period of the cheques or drafts, he added.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government on Wednesday said the Reserve Bank has decided to reduce the validity of cheques and bank drafts from the present six months to three months beginning next fiscal. The Reserve Bank of India (RBI) has advised that with effect from April 1, 2012, banks should not make payments against cheques, drafts, pay orders [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[6987,6988,6985,6986],"class_list":["post-17677","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-bank-drafts","tag-minister-of-state-for-finance-namo-narain-meena","tag-reserve-bank-of-india-rbi","tag-validity-period-of-cheque"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Validity of cheques to be reduced to 3 months - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"The government on Wednesday said the Reserve Bank has decided to reduce the validity of cheques and bank drafts from the present six months to three - Get the latest legal news from the Supreme Court, High Courts, and government. Essential updates on judgements, acts, and in-depth analysis for lawyers, advocates, and law students in India.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/news\/validity-of-cheques-to-be-reduced-to-3-months\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Validity of cheques to be reduced to 3 months - Legal News India - Supreme Court &amp; High Court Updates\" \/>\n<meta property=\"og:description\" content=\"The government on Wednesday said the Reserve Bank has decided to reduce the validity of cheques and bank drafts from the present six months to three - Get the latest legal news from the Supreme Court, High Courts, and government. 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The top court said there are two aspects under\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52194,"url":"https:\/\/www.legalindia.com\/news\/rbi-not-proper-auditing-cvc-pnb-fraud","url_meta":{"origin":17677,"position":3},"title":"RBI did not do proper auditing: CVC on PNB fraud","author":"Legal India Admin","date":"April 4, 2018","format":false,"excerpt":"Central Vigilance Commissioner K V Chowdary today said the Reserve Bank of India (RBI) had apparently not conducted an audit during the period of time when a Rs 13,000-crore scam hit the Punjab National Bank. Chowdary stressed the need to put into place a more robust auditing system. \"They did\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/04\/pnb.jpg?fit=970%2C545&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/04\/pnb.jpg?fit=970%2C545&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/04\/pnb.jpg?fit=970%2C545&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/04\/pnb.jpg?fit=970%2C545&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":60489,"url":"https:\/\/www.legalindia.com\/news\/delhi-court-suggests-awareness-drives-by-dlsas-banks-on-misuse-of-blank-cheques","url_meta":{"origin":17677,"position":4},"title":"Delhi court suggests awareness drives by DLSAs, banks on misuse of blank cheques","author":"Legal India Admin","date":"January 27, 2021","format":false,"excerpt":"Taking note of the judicial system being flooded with cases involving the misuse of cheques allegedly issued as 'security' by one person to another, a court here has suggested organising awareness programmes through the Delhi State Legal Services Authority (DLSA) and banks. 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