Multiple choice

In banking, a Pay In Slip

  1. Means a slip through which a person can deposit money in his account

  2. Means a slip through which a person can issue cheque from his account

  3. Is also called a withdrawal slip

  4. Must essentially contain IFSC code

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A Pay In Slip is a deposit slip used to credit money into a bank account. It contains details like account number, deposit amount, date, and depositor's signature. A withdrawal slip (option C) is used to take money out, and cheques (option B) are issued through cheque books, not pay-in slips. IFSC codes are essential for electronic transfers, not pay-in slips.

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