In a bid to put a curb on black money and avoid the possible misuse of financial instruments such as DD (Demand Drafts), BC (Banker\u2019s Cheque) and PO (Pay Order), among others, for the purpose of money laundering, the Reserve Bank of India has made it compulsory for banks to mention the name of respective \u2018Purchaser\u2019 on the face of such instruments with effect from September 15, 2018. Till now banks were required to write the name of beneficiary only while issuing Demand Drafts, Banker\u2019s Cheques and Pay Orders,\u00a0etc. Only a couple of banks were voluntarily mentioning the name of the purchaser too. In a notification issued on July 12, the apex bank said, \u201cIn order to address the concerns arising out of the anonymity provided by payments through demand drafts and its possible misuse for money laundering, it has been decided that the name of the purchaser be incorporated on the face of the demand draft, pay order, banker\u2019s cheques, etc., by the issuing bank. These instructions shall take effect for such instruments issued on or after September 15, 2018. Accordingly, Section 66 of the Master Direction on KYC dated February 25, 2016, as amended on April 20, 2018, has been amended and following paragraph has been added \u2013 'Further, the name of the purchaser shall be incorporated on the face of the demand\u00a0draft, pay order, banker\u2019s cheques, etc., by the issuing bank. These instructions shall take effect for such instruments issued on or after September 15, 2018'.\u201d It may be noted that while the Modi government has barred the use of cash in high-value transactions, tax evaders are still making the use of DDs and other financial instruments in high-value transactions such as purchase of jewellery and benami property. The RBI's latest move is likely to put a curb on such practices.