BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As per the order of the GOI
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As per the order of the IBA
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Negotiable Instruments Act
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RBI Act
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Detailed explanation-1: -A bank holiday in India is a public holiday which is declared specially for banks and other financial institutions. Not all public holidays are classified as bank holidays-bank holidays are declared by Central/State Governments/ Union Territory under the Negotiable Instruments (NI) Act, 1881.
Detailed explanation-2: -Section 25 in The Negotiable Instruments Act, 1881. 25. When day of maturity is a holiday.-When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next preceding business day.
Detailed explanation-3: –The Government of Maharashtra has separately declared 24 Public Holidays for the year 2023 notified the section 25 of the Negotiable Instruments Act, 1881 (XXIV of 1881) as per Notification No. PHD. 1122/C.R. 117/Desk-29, Dated 2nd December 2022.
Detailed explanation-4: –Where a bill has been protested for non-payment, any person may intervene and pay it supra protest for the honor of any person liable thereon or for the honor of the person for whose account it was drawn.