2019-11-14 06:19 Demand draft is a financial instrument for remittances in India. It's a simple mechanism that when you want to pay to an unknown person, you just pay that amount plus some commission to a bank and obtain a Demand Draft(DD) for the amount you paid (excluding commission). It will have the name of the person or entity you wanted to pay.
Jan 23, 2018 Answer Wiki. Demand draft number is at the bottom of the draft leaf. 1st 6 digits are indicated as DD number. the Dd leaves proceed serial wise in numbers. but no Dd is valid until the control number is printed on it after entry and verification of payments and processing charges. but it's very sensitive to handle because some times Dd shows printed demand draft india
Jul 25, 2018 The difference between cheque and demand draft is quite subtle. We all go through these terms many a times in our life but we never tried to differentiate
A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee). A demand draft can also be compared to a cheque. However, demand drafts are difficult to countermand. demand draft india
Jul 04, 2019 State Bank Of India charges a fee from you when you intend to buy a demand draft from them. The charges that were charged previously are as follows: 30. 00 is the charge if you buy a draft of value up to Rs. 10, 000. 00. For drafts above Rs. 10, 000. 00, you have to pay an additional 0. 25 on the amount above Rs. 10, 000. 00 along with the charge. Demand Drafts. Drafts from cooperative banks are not accepted; Please write your complete name, passport number and telephone number on the back of each Demand Draft; Demand Drafts should favor the American Embassy, be in Indian Rupees, and be based on Demand Draft ( also known as DD) is a prepaid negotiable instrument, wherein the Bank by whom the Demand Draft has been made undertakes the responsibility to make full payment whenever the Instrument is presented for payment. In order to obtain the payment, demand draft india Jul 04, 2019 For Demand Drafts issued on NonHDFC Bank, you need to pay Rs 50 plus additional charges depending on the amount of draft. Up to Rs 500, you have to pay Rs 10. The bank charges Rs 15 for issuing Demand Drafts with the amount above Rs 500 to Rs 1000. You have to pay additional charges of Rs 25 for a Demand Draft above Rs 1000 to Rs 5000. The additional charge for a Demand Draft with Sep 03, 2016 If Demand Draft gets expired. In India, a demand draft is valid for a period of 3 months from the date of issue. If it is not presented within three months the Demand draft will not be valid but money will not be automatically refunded. Then the purchaser of the draft should approach the branch concerned bank which issued the draft and submit an application for revalidation of the draft. History of Demand Draft in India Indian demand drafts are similar to cashiers cheque in the United States but they have certain differences. Cashiers cheques or orders were cleared locally whereas demand drafts were cleared at National Clearing House. May 07, 2019 A demand draft is a method used by an individual for making a transfer payment from one bank account to another. Demand drafts differ from normal checks in