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For how long are cheques, drafts, and pay orders valid from the date of issue, as per RBI guidelines effective from April 1, 2012?

1. 6 months
2. 4 months
3. 3 months
4. 2 months

Correct answer: 3 months

Solution

As per RBI guidelines effective from April 1, 2012, cheques, drafts, and pay orders are valid for 3 months from the date of issue. The earlier validity period was 6 months.

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