Archive for October, 2010

Collection of third party account payee cheques – Prohibition on crediting proceeds to third party accounts

Oct-4th-2010

RBI on friday, 1st october 2010 issued a notification reagarding Prohibition on crediting proceeds to third party accounts, the key points of the notification are as under: RBI/2010-11/ 222 October 1, 2010 Collection of third party account payee cheques – Prohibition on crediting proceeds to third party accounts Please refer to our circular DBOD.BP.BC.No.32/21.01.001/2009-10 dated August