Things to know about Bank Cheque
Things to know about Bank Cheque https://www.fundstiger.com/bank-cheque/ Cheques are the backbone of the banking industry and are still a very important negotiable instrument in the country. Reserve Bank of India (RBI) report says India’s cheque volumes declined only by 10.8% between 2012 and 2017, though the apex bank does expect the volumes to go down drastically by 2021. While traders and small businesses still conduct a lot of their transactions through cheques, seniors, who are not so comfortable with mobile-based apps and other digital modes, too prefer them. In fact, even the savvy ones can’t really do away with using them as cheques are still accepted by a lot of educational and other institutes, including financial ones that ask for a “cancelled” cheque before you make an investment. Here are three things all cheque users need to know. How to Write a Cheque? Step 1: The first step is to cross a cheque, which means to draw two lines, which are parallel to each ot...