Q58: What is the maximum period for which payment instruments like cheques, drafts, and pay orders are valid for payment?

They shall not be paid if presented beyond the period of three months from the date of such instruments.

They shall not be paid if presented beyond the period of six months from the date of such instruments.

They shall not be paid if presented beyond the period of one month from the date of such instruments.

There is no specified time limit for their presentation.

✅ Correct Answer: A

Payment instruments are valid for three months from the date of issue.

This basic banking knowledge is often integrated into RBI KYC Guidelines MCQs.

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