A cheque payable to the person or organization whose name is specified on the cheque is known as-

Question of The Day26-09-2021

A cheque, which becomes payable to the person or organization whose name is specified on the cheque is known as-

Answer

Correct Answer : a ) Order Cheque

Explanation :

A cheque, which becomes payable to the person or organization whose name is specified on the cheque is known as an order cheque.

The word ‘bearer’ is cancelled or strike out on this type of cheque.

This type of cheque can be encashed only by the payee, whose name has been mentioned in the cheque.

The bank will conduct its background check to authenticate the identity of the cheque holder before releasing the payment.

Hence, option (a) is correct.

0 LIKES

COMMENTS

Current-Affairs

Word Of The Day

Anodyne

Noun: Something that relieves pain or calm.

Adjective: Calming to the mind.

"The music of Arijit Singh is an anodyne for the sorrows of the youngsters."

UPPCS 2021 PRELIMS ANSWER KEY | UPPSC PCS Prelims 2021 GS Paper 1 and GS Paper 2 All Sets

UPSC Prelims 2021 General Studies Paper 1 and CSAT Question Paper of All Sets and Answer Key

UPSC Prelims 2021 Answer Key | UPSC 2021 Answer Key Set A, B, C and D and CSAT 2021 Answer Key

UP Special Current Affairs 2021 | UP Special News for UPPCS from July 2020 - September 2021

Daily Current Affairs and GK | 22 January 2022

Daily Current Affairs and GK | 21 January 2022

Daily Current Affairs and GK | 20 January 2022

Daily Current Affairs and GK | 19 January 2022

Daily Current Affairs and GK | 18 January 2022

Banking Economic Financial Awareness | 18, 19 and 20 January 2022

Banking Economic Financial Awareness | 16 and 17 January 2022

Banking Economic Financial Awareness | 14 and 15 January 2022

Banking Economic Financial Awareness | 12 and 13 January 2022

Banking Economic Financial Awareness | 9, 10 and 11 January 2022