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    5 6253755103493229016

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    Harsh Chaudhary
    A short presentation on cheques and their types of banking operations management.

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    © All Rights Reserved
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    5 6253755103493229016

    Uploaded by

    Harsh Chaudhary
    14 views16 pages
    A short presentation on cheques and their types of banking operations management.

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    5_6253755103493229016

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    © © All Rights Reserved

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    A short presentation on cheques and their types of banking operations management.

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
    14 views16 pages

    5 6253755103493229016

    Uploaded by

    Harsh Chaudhary
    A short presentation on cheques and their types of banking operations management.

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
    of 16
    en OLE] Ss) PWT Peo TM OMP PIEPER ERT Nee Ue y 4, COUR: eT) DEFINITION « Acheque is a bill of exchange in which one party orders the bank to transfer the money to the bank account of another party. It is a negotiable instrument that is covered under the Negotiable Instruments Act, 1881. « The cheque is an instrument with an unconditional order, addressed to the banker. It is signed by the person who has deposited cash in the bank. MEANING A cheque can be issued for a current account or the savings account and can be used to deposit or pay money to other people through the bank account. FEATURES eee ete Pah a ee Secret teats Oe Rm ese TR Cum teed eaten Sarena Rented kere Bcd Re ae Ran aes eee Ce Rate SOR Mn U Men nce ac rene sacral BOR MR REC ACM ur eur Serge ie Ree ea VALIDITY OF CHEQUES + As per RBI guidelines, with effect from April 1, 2012, the validity of cheques, demand drafts, pay orders, and banker’s cheque’s PM oleate [elt Rice Mena to 3 months, from the date of TW m ene na 1a ROSSING OF CHEQUES ¢ Crossing of cheque refers to instructing the banker to pay the specified sum through the banker only, i.e., the amount on the cheque has to be deposited directly to the bank account of the feo « Hence, it is not instantly encashed by the holder presenting the cheque at the bank counter. If any cheque contains such an instruction, it is called crossed cheque. TYPES OF CHEQUES 1. BEARER CHEQUE SNe eT Rent payment is made to the person bearing aetna eee mae Rete rd SeUe Cre acim AT are carrying the cheque to the bank, ae aetna rarer) Peer ae age RUSS moet On Ct NTI « In these cheques, the words ‘or bearer’ is cancelled. 2. ORDER CHEQUE + Such cheques can only be issued to the person whose name is mentioned on the cheque. 3. CROSSED CHEQUE « Cheques with two sloping parallel lines with the words ‘a/c payee’ written on the top left is called a crossed cheque. « The lines ensure that irrespective of who presents the cheque, the payment will be made only to the individual whose name is on the cheque. 4, OPEN CHEQUE PO ect ore Marsters Reyes Reranch etal cit eet bank, and the payment can be made to et ec ee ees te inten RUN cus ure eu Crea Seo Ie a eon te acter) PUR Une unc km e ts 5. POST-DATED CHEQUE « This cheque bear a later date of being encashed. Even if the bearer presents this cheque to the bank immediately after getting it, the bank will only process the payment on the date mentioned in the cheque. 6. TRAVELLER’S CHEQUE * Foreigners on vacation carry traveller’s cheques instead of carrying hard cash. * These cheque’s are issued to them by one bank and can be encashed in the form of currency at a bank located in another location or country. * Traveller’s cheque’s do not expire and can be used for future trips. 7. SELF CHEQUE « You can identify self cheque’s by the word ‘self’ written in the drawee column. ¢ Self cheques can only be drawn at the issuer’s the bank. 8. BANKER’S CHEQUE « A bank is the issuer of these types of cheques. The bank issues these cheques on behalf of an account holder to make a remittance to another person in the same city. Here the specified amount is debited from the Eee gol m au MeU CoCo RA Ae ROL Te BN AUT M Lh a MURR UM CMe) ema te (0 -e8-1e Me) 1 ota Cod-] 9] Tee Leen MMM OLR COM CALM COM uo Ce Mm UT Meal 0 U3 They are valid for three months. They can be revalidated provided specific conditions are met. THANK YOU

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