Can anybody who has tried SBI Draft facility answer the following :
* How many days (in actual) does it take to get the Draft encashed ? - if the account is in SBI, same day encashment otherwise local clearing three days.
* Are there any tax liabilities while clearing the Draft ? - NOPE
* What is better ? Should I get the Draft issued in my name or someone who is in India? I ask so as I still have accounts maintained in other banks over there ? - If it is in your name or some else,SBI will ask you the purpose. Check with them, I know Family Maintenance is one of these.
Thanks Kap and Desi # 1
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