BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Post dated cheque
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Stale cheque
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Forged cheque
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All of the above
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Detailed explanation-1: -Forgery: It usually involves the use of legitimate blank cheques, with a false imitation of the drawer signature on the signature line.
Detailed explanation-2: -A cheque on which the customer’s signature is forged does not authorise the bank to pay the cheque. So, in this case, bank will have to refund the money to the account holder.
Detailed explanation-3: -The duty to inform the bank about any fraudulent transaction lies on the customer. Customers are not bound with this duty. He/ she can get exempted from this obligation in case they are not aware of any such fraudulent transaction being done. A forged cheque is considered as no cheque.
Detailed explanation-4: -Forgery has been made an offence and the punishment for the forgery has been provided under Section 465 of the Indian Penal Code, 1860 which states that whoever commits forgery shall be punished with imprisonment for a term which may extend to 2 years or fine or both.