GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is a Bank breeze?
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Instraction to a landowner to pick up a customer’s debt
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Instruction not to honour a stop payment
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Cheque that a bank draws upon itself
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Letter from a Bank
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Explanation:
Detailed explanation-1: -A bearer cheque is the one in which the payment is made to the person bearing or carrying the cheque. These cheques are transferable by delivery, that is, if you are carrying the cheque to the bank, you can be issued the payment to.
Detailed explanation-2: -Generally, there are two parties to a cheque. These include the drawer and the drawee. While the drawer is the person who draws the cheque, the drawee is the banker on whom it is drawn. Apart from these, there can also be a payee who is liable to pay the amount on the cheque.
There is 1 question to complete.