Legal Question & Answers in Banking Law in India: refer to drawer what is the exact meaning of ” Refer to Drawer” mentioned the. ) The person on whom an order or bill of exchange is drawn; — the correlative of drawer. The reasons for cheque return are varied, and bank customers would be interested to know the possible cheque retur. What mean of 37,Where is my proper Zone.
An order cheque can be converted into a bearer cheque by means of? R Members Kindly let me know meaning of Refer to drawer mentioned in dishonour mermo of bank in context of NI Act Thanx. This page shows drawer meaning in Hindi with drawer definition,translation and usage.
Inward clearing means the cheques received by the bank from other banks. On receipt of the inward clearing, the cheques are posted to the various accounts on which they are drawn – meaning the accounts of the cheque issuer or drawer with the bank is debited to the account and the payment is made to the bank presentingthe cheque. I recieved a cheque in which the drawer is Axis Bank and pay is written as PNB Pampore, A/c M/s Bhat Enterprises. What does it mean when someone asks me for a blank Crossed cheque for making payment to my bank account through RTGS? Where do I get a blank crossed cheque?. But many a times the drawer, to escape his debt or liability has used it as an instrument of deception. The contract between the customer and the bank is defined as a debtor- creditor relationship.
Outward And Inward Clearing In Banking
Define stop payment. stop payment synonyms, stop payment pronunciation, stop payment translation, English dictionary definition of stop payment. (Banking & Finance) an instruction to a bank by the drawer of a cheque to refuse payment on it. But what do the two terms cheque and demand draft means? Basis for ComparisonChequeDemand Draft MeaningCheque is a negotiable instrument which contains an order to the bank, signed by the drawer, to pay a certain sum of money to a specified person. Even there was no direction from the drawer to stop payment and the only ground on which the cheque. A hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions. Sahyog means co-operation in Hindi and Gujrati, the predominant languages of traders. Jokhim-Hundi – normally a hundi is unconditional but a jokhim hundi is conditional in the sense that the drawer promises to pay the amount of the hundi only on the satisfaction of a certain condition.