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It depends on your requirement. Usually a DD has to be drawn/issued in the name of the person who will encash it.
Lets say you want to apply for B.E in BITS Pilani, along with the application form they would ask for a DD worth say Rs. 1000/- Then you must draw your DD in favor of BITS Pilani so that they can encash it while accepting your application.
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∙ 15y ago
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Can a bank issue bearer demand draft?
no,because bearer draft is like a currency which can be issue only by rbi hence cant be issue bearer
How many days a demand draft issued in SBI is valid?
Normally a Bank Demand Draft is valid for 6 months from the date of issue.
What is difference between manager's cheque and a demand 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.
What is procedure if the demand draft is lost?
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.
What is Demand draft in banking?
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.
How do you write Letter for issue of demand draft?
how to write letter for demand draft issue
For what name you have to issue demand draft for karnataka cet?
Demand Draft should be drawn in favour of the "Special Officer, CET Cell, Bangalore", payable at Bangalore.
What is bankers name in a demand draft?
The bankers name in a demand draft is the name of the bank from where u purchased the demand draft.
Can a bank issue bearer demand draft?
no,because bearer draft is like a currency which can be issue only by rbi hence cant be issue bearer
How many days a demand draft issued in SBI is valid?
Normally a Bank Demand Draft is valid for 6 months from the date of issue.
Can stop payment of demand draft is possible in India?
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.
Can you return a demand draft taken by you 6 months after issue date?
It is possible either for revalidation or cancelling the draft.
How can you find demand draft number in Syndicate bank draft?
The demand draft is another name for a tele-check. The demand draft number through a Syndicate bank draft is usually found at the bottom of the check.
What is difference between manager's cheque and a demand 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.
How can you find the bank name in demand draft?
The name of the bank issuing the demand draft is usually imprinted on the top or bottom of the draft. It is usually printed in bold font which is easily identifiable. Even the details of the branch issuing the draft can be found in the draft.
What is the procedure if the Demand Draft is lost?
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.
What is procedure if the demand draft is lost?
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.
