Commercial Applications
An …………… is a cheque which is payable across the counter of the bank.
- Open cheque
- Pay-in slip
- Crossed cheque
- Bank draft
Banking
1 Like
Answer
Open cheque
Reason — An open cheque (also called a bearer or uncrossed cheque) is one which is payable in cash across the counter of the bank to the bearer or to the person named in it. A crossed cheque, in contrast, can only be paid into the payee's bank account. A pay-in-slip is used to deposit money, and a bank draft is a banker's cheque (always paid into a bank account).
Answered By
2 Likes
Related Questions
…………… is/are the main types of bank accounts.
- Current
- Recurring
- Fixed deposit accounts
- All of these
A bank offers the following options to its customers:
- Fixed Deposit Account: 7% interest, withdrawal only after maturity.
- Savings Account: 4% interest, withdrawal anytime.
- Recurring Deposit Account: 6% interest, regular monthly deposits.
Which account type should a customer choose if they need to withdraw money regularly and also want to maximize interest?
- Fixed Deposit Account
- Savings Account
- Recurring Deposit Account
- None of the above
In this account, the account holder is required to deposit a specific amount every month. After the expiry of the specified period, the depositor gets back his money together with interest thereon.
- Current account
- Recurring deposit account
- Saving account
- None of these
Which of the following options is/are correct statement(s)?
Statement 1: The Reserve Bank of India (RBI) acts as the banker's bank and manages the country's monetary policy.
Statement 2: The Industrial Finance Corporation of India (IFCI) is responsible for controlling the country's monetary policy.
- Only Statement 1 is correct
- Only Statement 2 is correct
- Both statements are correct
- Both statements are incorrect