If a cheque is crossed and marked "account payee
only", it must be paid into the account of the person to whom it is made out.
The memorandum issued, After successful roll out of electronic disbursement of all state government payments drawn through bills in Treasuries, it is now decided to replace the system of drawal and disbursement of funds relating to works expenditure through paper cheques by account payee
electronic cheques for direct credit of the proceeds to the payee s bank account.
1,20,000/- is to be deposited in the form of Account payee
Demand Draft in favour of IIT
The Account Payee
Demand Draft Should Be In Favour Of Fa And Cao Dlw Varanasi Payable At Varanasi.