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Topic : Payment Systems in India
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Bankers Cheque a low cost option against DD/Direct Cash

Created by : Mahadeva Sreenivasan, Finance and Operation, DSGS FZCO, Dubai, UAE  | 11 30 2009 09:50:33 +0000
Industry : BankingFunctional Area : India(Markets)
Keywords : this was requested for paying to a seller who was selling his plot and the instrument has to be given in registrar office to avoid cash being bartered - the safe method suggested is only demand draft. please confirm whether any of the indian banks to issue bankers cheque or notify customer own cheques as good for payment by charging nominal fee. i was surprised to hear from our banker in my locality they do not do endorsement of cheques issued as good for payment - and suggested they have only traditional instrument like demand draft or transfer.
Activity:  310 views;  last activity : 07 06 2010 20:18:09 +0000
 
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Is indian banks still living in olden days and does not offer facility of notifying customer cheques as good for payment
By Mahadeva Sreenivasan, Finance and Operation, DSGS FZCO, Dubai, UAE  | 11 30 2009 09:50:33 +0000
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