Legal Question in Banking Law in India
what is the meaning of exceed arrangement in bank?
Asked on 9/13/13, 12:06 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
13.09.2013
Dear Sir / Madam,
A cheque returned back with the reason "Exceeds arrangement" means the balance available in the bank A/c for clearing the cheque, is less than the amount written on the cheque and hence it cannot be cleared by the bank.
Regards,
Answered on 9/13/13, 1:27 am
J. Radhakrishnan
independent Practice
Banks grant a over draft limit on current accout or in a cash credit account. If a cheque is presented on the said account when the outstanding s in the said account are up to that limit or in excess thereof, the cheque will be returned with the said remark of 'exceed the arrangement'.
Answered on 9/14/13, 9:31 pm
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