does it apply on international checks too? i mean dollar checks already take like 20 days in processing. and if they are sent using regular mail, delivery too can take as long as 20 days. 40 days are gone just like that. add some other delays.
Reserve Bank hereby directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that date or any subsequent date, if they are presented beyond the period of three months from the date of such instrument.
i guess this ruling applies to banks who are to release the funds. since international checks are cleared by international banks, this ruling should not affect these checks. that is my interpretation
dunno. i actually was able to deposit a dollar check in icici that was nearly 6 months (could be 7 months old) easily. the lady at the counter did not bother to check the date. i had little hope of it getting processed. the amount was small (50 dollars) so i pretty much forgot about it. a month later realized that it was processed fine by the US based bank. i had actually lost this check during shifting. found it lying in junk one day.