Legal Question in Banking Law in India
acknowlagement of cheques deposited for collection in bank
icicibank,state bank of india,avoid to give acknowledgement
of cheques,div/intrest warrants deposited for collection,instead force the custemer to dump them in a box.
is it legal?can we press them for acknowledge.what legal step we can take?
2 Answers from Attorneys
Re: acknowlagement of cheques deposited for collection in bank
Any payment made, any negotiable Instruments parted with has to be duly acknowledged by the receiver as per the Banking Laws.
Re: acknowlagement of cheques deposited for collection in bank
Sir,
It is now a days more opted banking practice of drop box. But it is the right of customer to insist bank to give endorsement of having deposited cheque etc. If they refuse todo so, you can file complaint in consumer forum, or otherwise to challenge such practice u can file a writ before your concerned High Court.
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