A bank draft is an order drawn by an office of a bank upon another office of the same bank by instructing the other office to pay a specified sum to a specified person or his order. Drafts can be issued against cash or by debiting a client’s account.
The collecting banker is liable for the following :
The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.