RBI: Cheque / Draft Validity Restricted to 3 Months !

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Validity of cheque and draft have been restricted to three months from 1st April by RBI ( Reserve Bank of India ) which has issued CIRCULAR NO. DBOD.AML BC.NO.47/14.01.001/2011-12, DATED 4-11-2011 by which it has directed Banks  that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that…