What is cancelled cheque leaf

A cancelled cheque leaf is a cheque from your bank book that has been invalidated for financial transactions by drawing two parallel diagonal lines across it and writing the word CANCELLED in between. It serves as a proof of having an active bank account without risk of misuse, as it cannot be used to withdraw funds. Key details such as your account number, IFSC code, MICR code, and bank branch remain visible for verification. It is commonly used for:

• KYC verification for investments or insurance
• Setting up Electronic Clearance Service (ECS) for EMI payments
• Provident Fund (EPF) withdrawals
• Salary processing during job onboarding