Banks in Other Locations – Max 14 days RBI’s Collection of Instruments has answers to questions likeWhat happens if cheques / instruments are lost in transit / in clearing process?, My bank refuses to accept outstation cheques for collection. Is there any remedy? Cheque Truncation System CTS...
of a particular customer's account. A bank cheque is normally obtained by a bank customer (by paying its face value), the point is that the person receiving the cheque has the security of knowing it's payable by the bank and thus cannot bounce (not so long as the bank is solvent). ...