The common forms of credit instruments are: 1. Cheque 2. Bill of Exchange 3. Draft 4. Letter of Credit 5. Hundi 6. Promissory Note. Form # 1. Cheque: A cheque is written order addressed to a banker, signed by the person who has deposited money with the banker to pay an amount of money specified on the order to a [...]
List of twenty-nine commonly asked questions on senior citizen scheme with answers. Q. 1. What are the salient features of the Senior Citizens Savings Scheme, 2004? Ans. Q. 2. Can a joint account be opened under the scheme with any person? Ans. Joint account under the SCSS, 2004 can be opened only with the spouse [Rule 3 (3)] Q. 3. [...]
List of nineteen commonly asked questions on cheque truncation with answers. Q. 1. What Is Cheque Truncation? Ans. Truncation is the process of stopping the flow of the physical cheque issued by a drawer to the drawee branch. The physical instrument will be truncated at some point en-route to the drawee branch and an electronic image of the cheque would [...]