What is cheque

A cheque is a negotiable instrument that instructs a bank to pay a specific amount of money from a person's account to another individual or entity. In India, it serves as a secure method for making payments without using physical cash. Key features include:

• Payee: The person or organization receiving the money.
• Drawer: The account holder who signs and issues the cheque.
• Drawee: The specific bank branch where the account is held.
• MICR and IFSC: Codes used for unique identification and secure processing.