BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2-5
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2-10
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5-10
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5-50
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Detailed explanation-1: -3.2 Upper Limit of MCCs: There will be no limit on amount of MCC for payment at home branch. However, for payment at Non-Home branches, cap on amount is applicable, which is printed on the MCC as under: “Valid upto ₹……. lakh at Non-Home branch for Non-Cash Transaction only”.
Detailed explanation-2: -Answer and Explanation: YES, we can deposit 5 Lakh in 2 bank account, per A/c 2.5 Lakh.
Detailed explanation-3: -Is it mandatory to use Positive Pay? It is not mandatory to use Positive Pay System. However, cheques issued at a value greater than Rs 50, 000 shall be accepted for dispute resolution mechanism under CTS grid only if Positive Pay facility is used by the account holder.
Detailed explanation-4: -The issue charges for MCC are Rs. 3 per cheque leaf and this amount will be deducted from the account at the time when your cheque book is issued. Although there are no transaction charges.