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A promissory note issued as payable to bearer violates :
  • a)
    Section 31 of RBI Act.
  • b)
    Section 31 of Banking Regulation Act.
  • c)
    Section 31 of Negotiable Instrument Act.
  • d)
    Section 31 of Indian Contract Act.
  • e)
    None of these
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A promissory note issued as payable to bearer violates :a)Section 31 ...
Section 31 of RBI Act.
The Section 31 of RBI Act says that in India only the RBI or the central government can issue and accept promissory notes that are payable on demand. However, cheque, that are payable on demand, can be issued by anyone.
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A promissory note issued as payable to bearer violates :a)Section 31 of RBI Act.b)Section 31 of Banking Regulation Act.c)Section 31 of Negotiable Instrument Act.d)Section 31 of Indian Contract Act.e)None of theseCorrect answer is option 'A'. Can you explain this answer?
Question Description
A promissory note issued as payable to bearer violates :a)Section 31 of RBI Act.b)Section 31 of Banking Regulation Act.c)Section 31 of Negotiable Instrument Act.d)Section 31 of Indian Contract Act.e)None of theseCorrect answer is option 'A'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about A promissory note issued as payable to bearer violates :a)Section 31 of RBI Act.b)Section 31 of Banking Regulation Act.c)Section 31 of Negotiable Instrument Act.d)Section 31 of Indian Contract Act.e)None of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A promissory note issued as payable to bearer violates :a)Section 31 of RBI Act.b)Section 31 of Banking Regulation Act.c)Section 31 of Negotiable Instrument Act.d)Section 31 of Indian Contract Act.e)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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