<h1>RBI Reduces Validity of Cheques, Drafts, and Pay Orders from Six to Three Months Effective April 1, 2012.</h1> The Reserve Bank of India (RBI) has announced a policy change regarding the validity period of cheques, drafts, pay orders, and banker's cheques. Previously, these instruments were valid for six months from the date of issuance. However, effective April 1, 2012, the validity period will be reduced to three months. This decision aims to prevent misuse of these instruments, which were being circulated like cash for six months. Banks are required to comply with this directive and inform customers by marking the new validity period on all relevant instruments issued from the specified date.