Bank
Querist :
Anonymous
(Querist) 24 February 2011
This query is : Resolved
Plz Help
my query is
my father running a NGO(Society)
and a/c is opened in SBI saving A/c
Presently NGO received the grant approx. 30000/- for giving to 60 ladies.
then the organisation has been issued 60 bearer cheques in the name of 60 ladies but these 60 ladies belongs to villages and they can not come to the bank.
in against 60 ladies we gone to for withdrawl those cheques the bank manager creates problem for withdrawl
then what is procedure for withdrawl those amount from bank.
Querist :
Anonymous
(Querist) 24 February 2011
and i m not issue another cheques in against
those cheques.
malipeddi jaggarao
(Expert) 24 February 2011
Though as per banking law, a bearer cheque is always bearer and payable to the person who presents the cheque, in practice, the Bank looks for identification of the person who tenders the cheque for cash payment. First of all your father who runs an NGO should have not issued these many huge number of cheques for small amounts. Instead, he should have withdrawn the cash by single self cheque and make payments in cash to the villagers. He could have taken acknowledgement of receipt of money from them in a separate sheet for his record. Instead, he shifted this work to the Bank and normally banks discourage such type of unnecessary loading on them. However, since he has already issued the cheques, let him talk to the Branch Manager and request him to allow these transactions this time. If necessary your father should identify the payees of the cheques (whenever they tender for payment). That may solve the problem.
