I usually make all kinds of transactions via online payment portals like GPay, Paytm, PhonePay, and so on. Hence, it's been a long time since I have not used cheques to transact money. As a result, I curiously asked my banker friend, Ashish, “What is validity period of cheque?” He informed me that the validity period of a cheque refers to the duration during which the cheque can be presented for payment at the bank.
What is the validity period of cheque?
| The validity period of cheque | As per rule |
3 months from the date of issuance |
Present day |
6 months from the date of issuance |
Prior to April 1, 2012 |
To expand more on this topic of what is the validity period of a cheque, Ashish informed me that,
the RBI updated its guidelines to reduce the six-month validity term for several banking instruments to three months. Additionally, after a check's validity time expires, it turns stale or invalid and cannot be used to pay anything to the bank. Additionally, the bank will not accept an invalid cheque that has been sent.
I’d like to conclude my answer here about, “What is validity period of cheque?” I hope this helps:)
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What is the Validity Period of Cheque?
Riya
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2023-05-20T11:02:47+00:00 2023-05-20T20:49:33+00:00Comment
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