BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Indian Money Order
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Initial Money Order
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Invest Money Order
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Instant Money Order
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Detailed explanation-1: -iMO is an instant web based money transfer service through Post Offices (iMO Centre) in India between two resident individuals in Indian territory. You can transfer money from INR 1, 000/-to INR 50, 000/-from designated iMO Post Offices. It is simple to send and receive money.
Detailed explanation-2: -Instant Money Transfer (IMT) is an innovative domestic service that allows you to send cash to a receiver. All you need to do is mention receiver’s mobile number, amount to be sent and set Sender’s code. Beneficiary can withdraw cash using a debit card, from any ATM of the banks empanelled.
Detailed explanation-3: -Yes, you can easily track your Electronic Money Order using the Money Order Number provided on receipt. To track go to Track Consignment service provided in quick tools on Home Page.
Detailed explanation-4: -Amounts up to INR. 50, 000/-may be paid to the beneficiary in cash. Any amount exceeding this limit shall be paid by means of account payee Cheque or credited directly to the Savings Account standing in the Post Office in the name of the beneficiary.