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of <h1>RBI Mandates Account Payee Crossing for Demand Drafts Over Rs. 20,000 to Prevent Misuse and Enhance Compliance.</h1> The Reserve Bank of India has directed all scheduled commercial banks, excluding regional rural banks, to issue demand drafts of Rs. 20,000 and above with account payee crossing. This measure aims to prevent misuse by individuals who use uncrossed demand drafts as a cash transfer alternative. By ensuring these drafts are credited directly to the payee's account, the RBI seeks to enhance regulatory compliance and curb illicit financial activities.
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