What is the cheque

A cheque is a written, dated, and signed negotiable instrument that instructs a bank to pay a specific sum of money from the drawer's account to a recipient known as the payee. Governed by the Negotiable Instruments Act of 1881 in India, it serves as a secure alternative to carrying cash. Key components of a cheque include:

• The date of issue
• The payee’s name
• The amount in both words and figures (e.g., ₹5,000)
• The account holder's signature
• The unique cheque number and MICR code for bank identification