Tag Archive for 'Account Payee'

Minors over 10 years can operate bank accounts: RBI

RBI has issued guidelines allowing the minors above the age of 10 years to open their bank account independently in view to promote financial inclusion and bring uniformity in opening of such bank accounts. As per the guidelines, all minors can now open a saving/ fixed/ recurring bank deposit account through either his/ her natural […]

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Legal Action on Cheque Bouncing Issue

A cheque is a negotiable instrument in India and is valid for three months from its date. Cheque bouncing is one of the most common offences in the country, with over 40 lakh pending cases in the Supreme Court. A cheque is said to be bounced when the payment stated on it is not made […]