aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Banking Terminology
  • What is bank draft?
Multiple choice

What is bank draft?

  1. Letter from a bank

  2. Cheque which a bank draws itself

  3. Instruction to a banker to collect a customer's debt

  4. Instruction not to honour a stop payment

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Option 2 is correct.

Keep practicing — related questions

  • A draft in excess of the credit balance
  • N purchased a draft from a bank favoring B. The draft is lost in transit and the first bank needs some form...
  • What is the amount that can be issued by banks in cash as bank draft under KYC directives of RBI?
  • A demand draft is purchased by P. After 5 days, P comes to the bank and requests the bank to stop the payme...
  • Banking Regulation Act deals with (a) the regulation of business of banking companies (b) control over mana...
  • In the bank reconciliation statement starting from bank balance, a cheque issued for Rs. 500 was wrongly cr...
  • Private banks and foreign banks are regulated by ______ for their constitution and _______ for their busine...
  • Tele-banking facility is provided by banks through bank computers. It is based on which of the following?
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Banking and Cash Transactions (990 questions)

More quizzes with this question

  • Banking Terminology
  • Money and Banking
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy