Professor & Head, Department of Computer Science, Faculty of Management & IT, Hamdard University, New Delhi, India.
In this research paper the author proposes for introduction of a new type of payment instrument called by “CD” for a huge benefit of the bank customers in various directions in India. Here CD is an abbreviation which stands for “CUSTOMER-ISSUED DRAFT”. It is neither a traditional type of Bank-Draft (BD) or Demand-Draft (DD) or Pay-Order nor a type of Cheque, but it is much and much more than that for the improvement of customer service in a vast country like India. It is sure that CD will be the most dynamic and most flexible instrument for the customers in India or China compared to all other existing instruments. For the sake of presentation of the proposal the author has considered the Indian continent in its content material throughout here, but with no loss of generality or conflict of business interest or customer service interest this proposal can be well implemented in the vast Asian countries like China, Japan, Korea, Taiwan, Singapore, Malaysia, Pakistan, Indonesia, Sri Lanka or in any country in Asia (or world).
CD, blank CD, active CD, CCD, blank CCD, active CCD, VCD, blank VCD, active VCD, denomination of a VCD, ceiling amount of a VCD, expiry date for issue, valid date for depositing, owner-customer, dynamic mode of payment, LPA, MA
