BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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be attracted whether the cheques is ante-dated or post-dated provided it is presented within 3 months of the date of cheques or the period of validity, whichever, is earlier
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not be attracted if the cheques is ante-dated
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not be attracted if the cheques is post-dated
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All of the above
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Detailed explanation-1: -138 NI Act | Fine Imposed Must Not Exceed Double The Cheque Amount: Kerala High Court. The Kerala High Court on Wednesday said that the maximum amount of fine, including the interest, imposed in a case under Section 138 of the Negotiable Instruments Act, 1881 must not exceed twice the amount of the cheque.
Detailed explanation-2: -The cheque should be presented within six months from the date on which it was drawn or within the period of its validity, whichever is earlier. Within thirty days of receiving a memo of return from the bank, a notice should be served to demand the payment of the said money.
Detailed explanation-3: -Section 6 of the Act defines “A cheque is a bill of exchange drawn on a specified banker, and not expressed to be payable otherwise than on demand”. A cheque is bill of exchange with two more qualifications, namely, (i) it is always drawn on a specified banker, and (ii) it is always payable on demand.