Pdc ( post dated cheque) acceptance rules

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

SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 08 April 2020

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

Kishor Mehta (CEO) 08 April 2020

NO, a bank can not accept a post dated cheque and no bank will.

Can you please give me reference for the rule or circular which barred bank from a accepting PDC?

1 Like

P. Venu (Advocate) 08 April 2020

What are the facts? Please post material facts.

Kishor Mehta (CEO) 08 April 2020

You may refer RBI guidelines for banking regulations.

Dr J C Vashista (Advocate) 10 April 2020

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