Legal Question in Banking Law in India

Re: Negotiable Instruments Act

A " negotiable instrument "

means a promissory note, bill of exchange or cheque payable either to

order or to bearer. - by withdrawal slip only the account holder is permitted to withdraw the amount from his account - it will become a negotiable instrument only if you could tranfer/ receive /give an amount to other person through the withdrawal slip. http://indiacode.nic.in - you can get the bare act for your further referrence free of cost!

Re: Negotiable Instruments Act

No.Withdrawal form is not a negotiable Instrument.

Re: Negotiable Instruments Act

no

Re: Negotiable Instruments Act

NO.Sec.13 of Negotiable Instruments Act defines as a promissory Note, bill of exchange or cheque payable to order or bearer. Cheque is a bill of exchange in terms of Sec.6 of the Act.

A withdrawal slip is not transferable by delivery or endorsement though an order drawn on bank.