Supreme Court has given an important ruling on cheque validity

New Delhi: The Covid-19 lockdown will not impact three-month period of validity of the cheques, rules Supreme Court bench on Friday.

A three-judge bench headed by the Chief Justice of India (CJI) Sharad Arvind Bobde was considering request of extension of timelines under various laws.

After the question came on extension of three-monthperiod of validity of cheques, the Reserve Bank of India (RBI) informed the court that the same should not be done as it would impact banking activities.