Currently I am on Notice period. I have found a new Job during this period. But the New company where I will Join is asking for Cancelled Cheque, Account Number, IFSC Code and Bank Name for Induction before Joining. Is it safe to provide them my Bank Information? (I am afraid they will withdraw all my money from my Account)
The information they are asking for is reasonable, if they are trying to set up Direct Deposit for your paycheck. However, I've never heard of anyplace asking for that information BEFORE YOU ARE HIRED, and I've CERTAINLY never heard of a place asking for it AS A CONDITION OF EMPLOYMENT. There are still people out there who prefer to be paid with a paper check, which they deposit themselves.
If you are this nervous about the prospective employer ripping you off, your gut is trying to tell you DON'T TAKE THE JOB.
I keep one checking account with a zero (or a token) balance, solely as a direct-deposit account. I know when deposits are due and I move them out as soon as I can after they arrive. Your concerns are exactly why I do it. Nonetheless, I'd still want to wait until they needed a reason (i.e., to pay me).
Each and every company tends to have their own policies regarding how they collect payment information for their potential/new employees.
This information is standard for a range of companies that I know, including my current employer.
I would advise that you would be safe in providing them with such information, just not our credit/debit card details or banking login details, etc.