Multiple choice

Bankers' pay order is generally issued by the banker for

  1. local payments

  2. inter-state payments

  3. payment outside the country

  4. payment to other bankers
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A Correct answer
Explanation

A banker's pay order (also called manager's cheque or demand draft) is primarily used for making local payments within the same city or locality where the issuing branch is located. For inter-state or international payments, other instruments like demand drafts or wire transfers are typically used.

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