------------------------------------------------- What are the different types of cheques Cheque is an important document that an individual‚ companies‚ governments and many others use to transact their business. By definition‚ cheque can be termed as a negotiable document to transfer money either in physical form or to effect inter account transfer. Unless or otherwise stated‚ a cheque is a signed unconditional order addressing the bank to credit it by the issuer. The issuer of the cheque will have an account with the bank to which
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Negotiable Instruments Act‚ 1881 From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search The Negotiable Instruments Act‚ 1881 | An Act to define and Law relating to negotiable instruments which are Promissory Notes‚ Bills of Exchange and cheques | Citation | Act No. 26 of 1881 | Enacted by | Imperial Legislative Council (India) | Date enacted | 9 December 1881 | Date commenced | 1 March 1882 | Negotiable Instruments Act‚ 1881 was passed by British India and for over 130 years and
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Project Report on Axis Bank Content 1) Objectives 2) Introduction 3) Retail Branch Operations a) Account Opening b) Fixed Deposits c) Recurring Deposits d) Cash e) Cheque f) Demand Drafts g) Electronic Fund Transfer h) Franking i) E Tax Payments j) Forex Operations 4) Suggestions and Recommendations 5) Conclusion 6) References Objectives The objectives of the project are: 1) To observe the various product and service offering under
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the confirmation of cheque Rs 750000 for clearing which was rejected by me as it was not issued by me. After that I visited branch for the enquiry about the cheque which was not issued by me but branch manager refused to show me any detail. Instead manager asked me to show cheque books to verify whether it was misused from cheque books which I had. But manager didn’t find any cheque series from chequebooks I had. After that manager also ask me about Rs.85000 and Rs.50000 cheque cashed on 20th Nov
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definition of NI B/E‚ Pro Note and Cheque - For DD it is applicable - Not App on share certificate - Not App on share warrant - Not App on Document of title - Not App on Currency note - Not App on Bonds/Commercial papers/ T Bills/ FDs - App on Hundi (traditional instruments) Local rules are applicable‚ if not then NI Act is applicable Two amendments have been made since 1881 o Cheque Truncation : Section 143 Cheque made electronic o Cheque Dishonour: Section 138 (2 yrs imprisonment)
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a debit balance‚ deduct from it all cheques‚ drafts etc.‚ paid into the bank but not collected | | |and credited by the bank and added to it all cheques drawn on the bank but not yet presented for payment. The new | | |balance will agree with bank statement. | |(b) |If the bank balance of the cash book is a credit balance (overdraft)‚ add to it all cheques‚ drafts‚ etc.‚ paid into the| |
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PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge‚ in whole or in part‚ of any debt or other liability‚ is returned by the bank unpaid‚ either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged
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1.1 Background of the Study Now a day‚ education is not just limited to books and classrooms. In today’s world‚ education is the tool to understand the real world and apply knowledge for the betterment of the society as well as business. From education the theoretical knowledge is obtained from courses of study‚ which is only the half way of the subject matter. Practical knowledge has no alternative. The perfect coordination between theory and practice is of paramount importance in the context of
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dealing with negotiable instruments; Describe the definitions and types of instruments under the Cheques Act; Explain transferability with respect to cheques; Describe the use of signatures and the consequences of unauthorised signatures for drawer and endorser; Describe what sorts of holders there are on negotiable instruments; Describe what sorts of crossings can be put on cheques; Describe role and liability of the drawee and collecting institutions; and Apply the rules and
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department include cheques‚ demand Drafts and Pay orders. This department is divided in two sub departments; outward clearing and Inward clearing. Outward Clearing: Outward clearing includes two types of clearing local clearing and intercity clearing. Local clearing The local instrument and cheques deposit transactions form different banks and organizations like Standard charter‚ National bank‚ Faisal bank and CMA (Controller of Military Accounts) are operated here. The deposited cheques are received
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