cyril j koyippally (advocate) 03 September 2013
When a foreign cashiers cheque for foreign currency say $ 500000 got discounted in india the rate of rupee was X . But when the instrument got collected from the foreign bank the rate of Rupee was Y .Could the bank ask the customer to cmpensate the bank to the tune of difference between X and Y. ? Any suggestive reading on the point ?
Advocate Sastry (Advocate) 03 September 2013
Bank has already discounted the cheque at the rate X.... At the time of realisation of the cheque the transaction stands closed....Please provide me full details so that I can guide you...
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