RBI allows acceptance of cheques with date as per National Calendar (Saka Samvat) for payment

By | January 21, 2016

Acceptance of cheques bearing a date as per National Calendar (Saka Samvat) for payment

Source : Reserve Bank of India

RBI/2015-16/297
DCBR.BPD.(PCB/RCB). Cir. No. 9 /12.05.001/2015-16

January 21, 2016

The Chief Executive Officers
All Primary (Urban) Co-operative Banks/ State and Central Co-operative Banks (StCBs / CCBs)

Dear Sir/Madam

Acceptance of cheques bearing a date as per National Calendar (Saka Samvat) for payment

As you are aware that Government of India has accepted Saka Samvat as National Calendar with effect from March 22, 1957 and all Government statutory orders, notifications, Acts of Parliament, etc. bear both the dates i.e., Saka Samvat as well as Gregorian Calendar. Therefore, a cheque written in Hindi and bearing a date in Hindi is a valid instrument.

2. All Co-operative Banks are therefore advised that they should accept cheques bearing a date as per National Calendar (Saka Samvat) for payment, if otherwise found in order. You are further advised to ascertain the Gregorian calendar date corresponding to the National Saka calendar in order to avoid payment of stale cheques.

Yours faithfully

(Suma Varma)
Principal Chief General Manager

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