BANKING AFFAIRS

Detailed explanation-1: -A cheque in India is valid for 3 months from the date of issue. Any cheque which has been deposited three months after the date of the cheque being signed becomes a stale cheque.

Detailed explanation-2: -A stale cheque has already passed its validity date and can no longer be cashed. Currently, a cheque is considered valid until three months from its issued date.

Detailed explanation-3: -This means your financial institution cannot cash or deposit the cheque until that date has arrived. Stale-dated Cheque – This is a cheque that is still uncashed more than 6 months after it’s written. At this point, it is a stale cheque, and a financial institution will not cash it.

Detailed explanation-4: -But, in practice, banks will usually reject a cheque if you try to pay it in or cash it more than six months from the date of issue – that’s the date written on the cheque. If you’ve forgotten about a cheque and it’s more than six months old, the best thing to do is ask the person who gave it to you to write another.

Detailed explanation-5: -A stale check is a check that has been written more than six months ago and has not been cashed or deposited. A post-dated check is a check with a future date written on it, indicating that the funds should not be withdrawn until that date.