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  • Bar Council Mock - 9
  • A cheque is presented for payment through clearing house ...
Multiple choice

A cheque is presented for payment through clearing house but due to certain reasons, it is returned unpaid. The returning memo is enclosed to comply with the

  1. Negotiable Instruments Act

  2. RBI Act

  3. Banking Regulations Act

  4. RBI Clearing House rules

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

(4) The returning memo is enclosed to comply with the RBI Clearing House rules.

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