Name of purchaser to be mentioned on the face of Demand Draft, pay order, banker’s cheques, etc., by the issuing bank 15th September 2018 inwards-RBI
Reserve Bank of India has decided to incorporate the name of the Purchaser on the Face of the Demand Draft issued by the banks.
As per instruction issued in this regard, it has been stated that this step has been taken in order to address the concerns arising out of the anonymity provided by payments through demand drafts and its possible misuse for money laundering.
Now, it has been decided that the name of the purchaser be incorporated on the face of the demand draft, pay order, banker’s cheques, etc., by the issuing bank.
The said These instructions shall take effect for instruments issued on or after September 15, 2018.
Accordingly, Section 66 of the Master Direction on KYC dated February 25, 2016 has been amended by adding the following paragraph:
Further, the name of the purchaser shall be incorporated on the face of the demand draft, pay order, banker’s cheques, etc., by the issuing bank. These instructions shall take effect for such instruments issued on or after September 15, 2018.
Invitation For Empanelment Of Practising Chartered Accountants / Chartered Accountant Firms Forest Development Corporation of Maharashtra Limited (FDCM Limited), Nagpur,…
Press Registrar General of India (PGRI) invites application for empanelment of Chartered Accountants. The Press Registrar General of India manages…
CBDT notifies revised Form No. 169 for making application for registration as a valuer under section 514 and authorised income…
Curtailing time to file reply to notice u/s 148A(b) from statutorily available 30 days to 15 days seriously prejudiced assessee’s…
At the stage of registration u/s 12AB, the CIT(E) not empowered to adjudicate applicability of provisio to section 2(15) of…
Flower bed area could not be included in the definition of “built up area” to calculate eligible limit of 1000…