For demand drafts, pay orders, or banker’s cheques of ₹50,000 and above, which requirement must be fulfilled as per banking guidelines?

As per RBI guidelines (effective 15th September 2018): • For fund transfers of ₹50,000 and above through demand drafts, pay orders, banker’s cheques, or similar instruments: o Payment must be made only by debiting the customer’s account or against a cheque — cash payment is not allowed. o The name of the purchaser must be incorporated on the face of the instrument to enhance transparency and traceability. This measure was introduced to prevent misuse of large-value transactions, enhance accountability, and strengthen the anti-money laundering framework.