A stale cheque is not honoured by the bank. In 1881, the Negotiable Instruments Act was enacted in India. Required fields are marked *. A crossed cheque or an account payee cheque: It is written in the same as that of bearer cheque but … Important National Parks and Sanctuaries in India, A crossed cheque or an account payee cheque, DAILY CURRENT AFFAIRS QUIZ : OCTOBER 17, 2020, DAILY CURRENT AFFAIRS QUIZ : OCTOBER 16, 2020, DAILY CURRENT AFFAIRS QUIZ : OCTOBER 14 & 15, 2020, Drawer, the person or entity who makes the cheque, Drawee, the bank or other financial institution where the cheque can be presented for payment. Such a cheque is valid upto three months from the date of the cheque. In 1938, the Calcutta Clearing Banks’ Association, which was the largest bankers’ association at that time, adopted clearing house. Input your search keywords and press Enter. In case of order cheque the payee in whose name the cheque has been issued can only withdraw the money. Thanks for using this online dictionary, we have been helping millions of people improve their use of the TAMIL language with its free online services. See Bank check, below. For example on 11/1/2015 you are issuing a cheque dated 1/1/2015 than it will called anti dated cheque and will be vailed for three months form 1/1/2015. The NI Act provided a legal framework for non-cash paper payment instruments in India. If it presented for payment, such a cheque the bank will not make payment against such a cheque without getting confirmation of the drawer. Your email address will not be published. Cheque is a  financial instrument which can be transferred to another party by simply endorsing it. If a cheque is torn into two or more pieces such cheque is Mutilated Cheque. PDCs are cheques issued with future date on it. Charges also vary depending on the type of account, like current account, where more cheque leaves are provided as compared to individual savings account. When the word “bearer” appearing on the face of a cheque is cancelled and when in its place the word “or order” is written on the face of the cheque, the cheque is called an order cheque. If a cheque is presented for payment after three months from the date of the cheque, it is called stale cheque. It is considered the safest kind of cheque, as we can find to which account the money has been transferred. cheque meaning in tamil அகராதி Tamil Meaning cheque meaning in tamil is காசோலை cheque tamil meaning and more example for cheque will be given in tamil. Issuing these types of cheques are risky because if the payee misplace it than the finder can withdraw money from the bank. In simple words, Bearer cheque means the person who is holding the instrument can withdraw money form the bank account. Lifetime validity Bank Exam Coaching | Bank PO / Clerk Coaching | Bank SO Exam Coaching | All-in-One SSC Exam Coaching | RRB Railway Exam Coaching | TNPSC Exam Coaching | KPSC Exam Coaching. This type of issuing a cheque is also called bearer type cheque also known as open cheque or uncrossed cheque. 2) A crossed cheque or an account payee cheque: It is written in the same as that of bearer cheque but issuer can cross it by adding two parallel lines on the right hand top corner.Only person name written on it can get the amount transferred to his account. Such a cheque is payable to the person specified therein as the payee, or to any one else to whom it is endorsed (transferred). Tamil Meaning of Bank-cheque. In case, if a cheque is torn at the corners and no material fact is erased or cancelled, the bank may make payment against such a cheque. It is used for business purposes or making of payment in future date. Gift cheques may be purchased in unlimited numbers from every branch of the ‘X’ Bank. However, there are various kinds of chequebook you receive and it would depend on the type of account you have. The number of cheques in a cheque book also differs depending on the account. »Important National Parks and Sanctuaries in India, Your email address will not be published. A cheque is a document that orders a bank to pay a specific amount of money to the person in whose name the cheque has been issued. The forsaking by a hawk of its proper game to follow other birds. If a cheque bears a date earlier than the date on which it is presented to the bank, it is called as “anti-dated cheque”. … They were generally used by people on vacation in foreign countries instead of cash, as many businesses used to accept traveler’s cheques as currency. The issuer of the cheque would just fill the name of the person to whom the cheque is issued, writes the amount and attaches his signature and nothing else. The cheque issued today will be vailed for three months from the date of issue. Gift cheque, it is a cheque forirted in decorative form issued for a small extra charge by the banks for use by customers who wish to give presents of money on special occasions.

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