Section 45Z of The Banking Regulation Act, 1967: Return of paid instruments to customers.

Section 45Z of The Banking Regulation Act, 1967: Return of paid instruments to customers.

Return of paid instruments to customers. – (1) Where a banking company is required by its customer to return to him a paid instrument before the expiry of the period specified by rules made under section 45-Y, the banking company shall not return the instrument except after making and keeping in its possession a true copy of all relevant parts of such instrument, such copy being made by a mechanical or other process which in itself ensures the accuracy of the copy.
(2) The banking company shall be entitled to recover from the customer the cost of making such copies of the instrument.
Explanation. – In this section “customer” includes a Government department and a corporation incorporated by or under any law.

 

For Complete Banking Regulation Act, 1949. Click here

For other Central Acts. Click here.

Are you Looking for a Legal Professional? Click here

OR

Are you a LawyerRegister here to get published on Advocate Finder, an open platform for lawyers.

Leave a Reply

Your email address will not be published. Required fields are marked *