Friday, September 20, 2013

Here’s how banks can goof up with your post dated cheques

...This is no imaginary situation. The above example comes from the Reserve Bank of India’s banking ombudsman office. In this case, the aggrieved customer finally approached the banking ombudsman, which held both the banks at fault. The presenting bank was at fault for presenting the post dated cheque before the due date and the second bank for not scrutinising the date of the instrument before processing............

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