Here is another surprise move from the RBI for stopping acceptance of post-dated cheques. PDCs are preferred by lenders as it is considered a “safe instrument” while banking public feels at ease with its usage
Moneylife Digital Team
The Reserve Bank of India (RBI) while extending the deadline for issuing new chequebooks based on the cheque truncation system (CTS) signalled the end of post-dated cheque (PDCs) era.
In a notification issued on 18th March, the central bank said the system of post-dated cheques and payment via equated monthly instalment (EMI), in either the old or the ...............
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