Cheques are a sort of banking document that instructs a bank to give money to the person listed on the document in a specific amount. However, if you are thinking, what is stale cheque? I’d like to say that stale cheques are those that have been issued to the bank after their expiration date.
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What is meant by stale cheque?
When a cheque is handed to the bank after it has expired for payment, it is regarded as stale. After the date of issuance, the cheque remains valid for six months. When a cheque's period of validity ends, it gets stale.
Calculate your EMI on a home loan via the NoBroker EMI calculatorBanks do not accept these cheques because of Reserve Bank of India regulations on their legality. It is not possible to pay the bank with a stale cheque. If they are filed for payment, the bank will not honour them.
I hope this suffices your query about what is the meaning of stale cheque.
After how many months a cheque becomes stale?A cheque becomes stale after 6 months from the issue date.
I’d like to conclude my answer here about what is stale cheque. I hope this helps:)
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What is Stale Cheque?
Riya
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2 Year
2023-05-20T11:00:18+00:00 2023-05-20T20:40:44+00:00Comment
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