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Bankers Study Material:N I Act:

Collection of Cheque & Protection to Banker under N I Act

By: Amit,      Update:31 Jan 2010

 . U/s 131, banks gets protection against conversion when they collect cheques subject to the conditions that (a) cheques are collected for customer (as agents) (b) cheques are crossed before presentation to the paying bank and (c) cheques are collected in good faith and without negligence.

. For collection of draft, similar protection is available u/s 131 A.


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