yes, if it is below Rs.20000/-
how to write letter for demand draft issue
no,because bearer draft is like a currency which can be issue only by rbi hence cant be issue bearer
Normally a Bank Demand Draft is valid for 6 months from the date of issue.
To stop demand draft is difficult. A payee can only issue a complaint if draft is lost or destroyed. The issuer bank can then submit a lost or stop payment against the draft and will often re-issue a new one.
Demand Draft should be drawn in favour of the "Special Officer, CET Cell, Bangalore", payable at Bangalore.
It is possible either for revalidation or cancelling the draft.
manager's cheque is issue by you and bank draft is issue by bank on behalf of the customer And the money is more secured.
A Demand Draft is similar to a bank check but with a small difference. In case of a demand draft, the customer pays the money upfront to the bank along with a small fee so that the bank can issue the draft for the mentioned amount. The draft is equivalent to cash and can be converted to cash by the person to whom it is issued. This way, the person who gets the draft can be sure that he will get paid 100% of the money due him.
It is valid for 6 months from the date of issue.
You can do something about the lost draft if you have the demand draft number. visit the branch where you took the draft and provide them the draft number. Also give them a letter with the draft details (on whose name you took the draft, the date, draft number, amount, payable city etc) and tell them that the draft is lost. As a first step, ask them to block the draft so that, the draft cannot be cashed by someone. As the next step, ask them to either cancel the draft and pay you money or re-issue a fresh draft.
You can do something about the lost draft if you have the demand draft number. visit the branch where you took the draft and provide them the draft number. Also give them a letter with the draft details (on whose name you took the draft, the date, draft number, amount, payable city etc) and tell them that the draft is lost. As a first step, ask them to block the draft so that, the draft cannot be cashed by someone. As the next step, ask them to either cancel the draft and pay you money or re-issue a fresh draft.
Demand Drafts can be taken in any bank branch. All banks have facilities to accept and issue demand drafts. All they need is the details of the person who is going to pay for the draft and the details of the person to whom the draft should be paid to. The bank might charge you a small fee for providing this facility.