Now Validity of Cheques, DD is Three Month in India

Reserve Bank of India(RBI) has announced the reduction of the duration of validity of cheques and Demand Drafts(DD) from six months to three months from 1st April 2012. Customers will have to present the cheque and bank drafts for disbursement of cash within three months. 

In a notification on Friday evening, the Reserve Bank of India said these instruments will have to be presented within three months from the date of issue as it has been brought to its notice by the government that some persons were taking undue advantage of the sixmonth validity of cheques/drafts/pay orders/banker's cheques by circulating them like cash for this period. For customer awareness, banks have been asked to print the change on cheques and drafts that will be issued from April 1, 2012.