Legal Question in Banking Law in India
i have received a bearer cheque from my client in name of self....can i withdraw cash in his absence....(idbi bank)...do i need 2 carry his documents likehis pancard, etc ???
Asked on 7/23/10, 10:59 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
The bearer cheque is payable to bearer. You can withdraw cash by presenting it to the Bank and signing on the back of the cheque before the bank staff to whom it is presented. They may ask for your identity proof, carry voter identity card or ration card. You need not carry the drawer's pan card etc.,
Answered on 7/23/10, 6:53 pm
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
I agree; except that you may need drawee's ID and not that of drawer.
Answered on 7/26/10, 1:55 am
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