BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Its validity can be 12 months
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Its validity can be 9 months
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Cannot be collected as its validity is limited to 3 months
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It can be collected any time
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Detailed explanation-1: -As per guidelines of Reserve Bank of India (RBI), the validity period of cheque from the date of issue is 3 months.
Detailed explanation-2: -A. Outward Clearing In all Speed Clearing Centres, our branches would accept cheques drawn on Upcountry CBS branches of other Banks, alongwith local cheques deposited by customers and present them in local clearing. Service Charges as stipulated by RBI are levied.
Detailed explanation-3: -Banking facilities available to customers at branches other than the home branch are called non-home branches. A fee is levied on the customer if any cash transaction, such as deposit or withdrawal, is done at a non-home branch.
Detailed explanation-4: -Maximum timeframe for collection of cheques drawn on state capitals / major cities / other locations are 7/10/14 days respectively. If there is any delay in collection beyond this period, customer is entitled to receive compensation at the rate specified in the CCP of the concerned bank.