The Supreme Court on Tuesday dismissed a PIL seeking to exclude the time period of lockdown for calculating the limitation for presentation of cheque/demand draft as directed by the Reserve Bank of India.
As per RBI directions, banking instruements(cheques/demand drafts) should be presented for encashment within 3 months from the date of issuance.
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It was contended by the Petitioner that during the lockdown period due to COVID-19 pandemic, people have not been able to venture out to present their cheques or banking instrument.
The Court held that:
In our considered view, this is the policy decisions to be taken up by the Reserve Bank of India regarding which the Court cannot issue any direction.
Read order here:
