TEST YOUR SELF
N. S. Toor General Knowledge/General Awareness Solutions for Exercise - TEST YOUR SELF
Simple step-by-step solutions to TEST YOUR SELF questions of Banking Law and Practice from Hand Book Of Banking Information. Also get 3D topic explainers, cheat sheets, and unlimited doubts solving on EMBIBE.
Questions from TEST YOUR SELF with Hints & Solutions
Which of the following can be issued against cash as per RBI guidelines, if the amount is Rs.50000 or above?
(1) demand draft
(2) mail transfer
(3) telegraphic transfer
(4) travellers' cheques
An original draft is reported as lost. Its duplicate is issued and is presented in a clearing. It is found by the drawee branch that the original draft is already paid in bank's records:
X purchased draft in favour of UPSC and after some time he approached the bank for cancellation.The draft bears endorsement of the payee also:
A draft presented for payment through clearing is unsigned.The bank:
Bank drafts are issued by banks payable to order only and not payable to bearer_____.
If a DD is up to Rs.5000 in favor of govt. the department, and not older than 2 years, it can be paid, without revalidation, although after 3 months a normal DD requires re-validation. The given statement is _____.
Duplicate DD up to Rs.5000 is to be issued without obtaining non-payment advice from the drawee branch. The given statement is _____.
Duplicate DD is to be issued within days of receipt of request and completion of formalities. The given statement is _____.
