Legal Question in Banking Law in India

The signatures on the back are only for bank's own facility; there is no legal binding about genuineness of the signatures on the back of the cheque. The bank has committed no wrong in making payment without verification of signatures at the back.

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1. When the cashiers have a practice of demanding account holder's endorsement on the back of the cheque, does this practice not have the force of law ?

NO, THE BANK IS NOT DUTY BOUND TO ASK THE ACCOUNT HOLDER'S SIGNATURE AT THE BACK OF CHEQUE.

2. Are banks required to ask for the proof of identity of the person presenting the cheque at the counter or the presenter is free to sign under any fictitious / assumed name ?

NO, IN CASE THE SIGNATURES MATCH, THEY DONT ASK FOR ANY IDENTITY OF THE PRESENTER OF THE CHEQUE.

3. If the presenter is free to sign under any assumed name, then what is the great idea behind asking for his signatures on the back of the cheque, why not just give away the demanded amount ?

NOT WORTH REPLYING

4. If the account holder's endorsement is demanded on the back of the "self or Bearer" cheque as a banking practice, is the bank not obliged to verify the genuineness of account holder's endorsement ?

ITS NOT DEMANDED ON THE BACK.

5. If a banking practice that has been followed for a long time acquires the force of law, should a forged endorsement on the cheque not make the cheque a defective instrument, a 'nullity' ?

AT THE MOST, YOU CAN TAKE AN ACTION AGAINST THE PERSON WHO STOLE YOUR CHEQUE AND GOT TEH SAME ENCASHED. IN CASE YOU DO NOT KNOW THAT PERSON, YOU CAN LODGE AN F.I.R. AGAINST UNKNOWN ACCUSED AND MENTION IN THE F.I.R. THAT HOW YOUR CHEQUE WAS STOLEN.