Legal Question in Banking Law in India
My Cheque is returned for reason for that from bank Instrument Outdated.
Asked on 8/03/15, 5:20 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
03.08.2015
Dear Sir / Madam,
MICR (Magnetic Ink Character Recognition) Cheques are given to customers by Banks with the name(s) of the A/c holders printed thereon. It is likely that you may have issued an old non-MICR cheque to your party. You should return the old cheque book and request the Bank to issue you a new MICR cheque book.
Regards,
Answered on 8/03/15, 6:50 am
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