Legal Question in Banking Law in India
refer to drawer
what is the exact meaning of '' Refer to Drawer'' mentioned the cheque return memo of the bankers.
4 Answers from Attorneys
Re: refer to drawer
It is often used when the balance in the account is insufficient to honour the cheque. It is more a sophisticated term for insufficiency of funds
Re: refer to drawer
It means insufficient funds and therefore you are asked to refer to issuer of cheque
Re: refer to drawer
"Insufficient Funds" and "refer to drawer" have same meaning though the later is a little wider and may include other reasons also which are attributable to the drawer.
Re: refer to drawer
Refer to drawer mark indicates that there are some defect or otherwise some problem to pay the amount written in the cheque. It's meaning is take the cheque to the issuer of the cheque for rectification of the problem.
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