The National Commission held that any individual possessing a bearer instrument is legally entitled to encash it, and the bank is bound to honour such an instrument when it is presented for payment.

If it is a bearer cheque it can be paid to anybody who presents it. Alternatively, if it is an order cheque, the named payee or the endorsee shall have to establish his identity before payment is made ...

Usually, banks issue chequebooks to savings account holders. Banks issue cheques to both current account holders and savings account holders. In this era of UPI and digital transactions, the ...