GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What happens if a crossed cheque is presented for payment?
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It cannot be paid at all
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It can be paid only through a banker
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It can be paid across the counter in another bank
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None of the above
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Explanation:
Detailed explanation-1: -This makes sure that no matter who presents the cheque to the drawer’s bank, the transaction is made into the account of the person named in the cheque only. This type of cheque can only be cashed by the drawee’s bank.
Detailed explanation-2: -General Cheque Crossing For the purpose of general crossing two transverse parallel lines at the corner of the cheque are necessary. Thus, in this case, the holder of the cheque or the payee will receive the payment only through a bank account and not over the counter.
Detailed explanation-3: -A cross cheque is a cheque which has to be directly deposited in the bank account of the person so mentioned. It cannot be made payable over the counter.
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