Legal Question in Banking Law in India
under what circumstances, a bank can refuse the payment of a bearer cheque.
Asked on 8/14/15, 8:42 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
14.08.2015
Dear Sir / Madam,
The Bank can refuse the payment of a bearer cheque if the name of the bearer mentioned on the cheque does not match with the person who has come to withdraw the money; or if the bearer is unable to provide identification proof; or if the drawer's signature on the cheque differs; or there is a mismatch in the amount in words and figures mentioned on the cheque; or there is / are instances of overwriting on the cheque which require the drawer's initials.
Regards,
Answered on 8/14/15, 9:18 am
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