GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A promissory note that is not secured by any collateral or not secured by a mortgage or lien marked on any property is ____instrument.
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Debenture
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Currency bill
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Commercial bill
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Bill of exchange
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Explanation:
Detailed explanation-1: -4[(2) Notwithstanding anything contained in the Negotiable Instruments Act, 1881, (26 of 1881) no person in 2[India] other than the Bank or, as expressly authorised by this Act, the Central Government shall make or issue any promissory note expressed to be payable to the bearer of the instrument.]
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