Upgrad LLM

pdc ( post dated cheque) acceptance rules


Can a bank accept a PDC before a date mentioned on it?
 
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Retired Manager

Yes, Bank can accept. However now with the advent of ECS this has become redundant.
 
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CEO

NO, a bank can not accept a post dated cheque and no bank will.
 
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Can you please give me reference for the rule or circular which barred bank from a accepting PDC?

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Advocate

What are the facts? Please post material facts.

 
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CEO

You may refer RBI guidelines for banking regulations.
 
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Lawyer

PDC is acceptable to the financer Banker for future EMI, otherwise "no".

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