Section 4 in The Foreign Exchange Management (Encashment Of Draft, Cheque, Instrument And Payment Of Interest) Rules, 2000
4. Encashment of draft, cheque or other instrument .-The Reserve Bank of India or an authorised person shall take steps without delay for encashing the draft, cheque or other instrument and, on such encashment, shall credit the proceeds realised (less any commission and expenses incurred for such encashment) to a separate account in the name of the Directorate of Enforcement.
