Demand Drafts
Important Questions on Demand Drafts
Which of the following can be issued against cash as per RBI guidelines, if the amount is Rs.50000 or above?
(1) demand draft
(2) mail transfer
(3) telegraphic transfer
(4) travellers' cheques
Duplicate DD is to be issued within days of receipt of request and completion of formalities. The given statement is _____.
Duplicate DD up to Rs.5000 is to be issued without obtaining non-payment advice from the drawee branch. The given statement is _____.
If a DD is up to Rs.5000 in favor of govt. the department, and not older than 2 years, it can be paid, without revalidation, although after 3 months a normal DD requires re-validation. The given statement is _____.
Bank drafts are issued by banks payable to order only and not payable to bearer_____.
A draft presented for payment through clearing is unsigned.The bank:
X purchased draft in favour of UPSC and after some time he approached the bank for cancellation.The draft bears endorsement of the payee also:
An original draft is reported as lost. Its duplicate is issued and is presented in a clearing. It is found by the drawee branch that the original draft is already paid in bank's records:
The bank draft can be paid in cash provided the amount is less than Rs _____.
The bank draft can be issued by accepting cash provided the amount is less than Rs _____.
If a duplicate DD is not issued within a stipulated time, interest applicable for Term Deposit for the corresponding maturity is required to be paid.
Who among the following can stop payment of a bank draft once it reaches the payee?
Which of the following may not be included in the demand draft?
In case of a collection of the draft, the collecting banker is protected against conversion under section _____ of Negotiable Instruments Act .
On the information that the draft has been lost, a duplicate has been issued after making an indemnity bond. The original and duplicate are presented for payment through clearing, by two different banks on the same day. Both have been branded with the stamp payee's account credited. The bank_____.
In case of payment of draft bearing endorsements, the paying banker is protected under _____ section of Negotiable Instruments Act 1881, if other conditions are satisfied.
