Q. A collecting banker is given protection only when he collects
✅ Correct Answer: (A)
A crossed cheque
Banking and Finance 3 MCQs and Notes
Q. Bankers undertake the duty of collection of cheques and bills because......
✅ Correct Answer: (C)
They want to do it as a service
Q. The best answer for returning a cheque for want of funds in the account is.........
✅ Correct Answer: (D)
Not sufficient funds
Q. Who can file a criminal case against the drawer of a dishonored cheque?
✅ Correct Answer: (C)
Both of the above
Q. A cheque has been deposited by a customer with his bank for collection. The bank allows overdraft against the security thereof. The bank becomes
✅ Correct Answer: (C)
Holder for value
Q. In case collection of a bank draft the collecting banker is protected against conversion under _____ section of Negotiable Instruments Act 1881.
✅ Correct Answer: (B)
131 A
Q. In case of collection of cheques and bills, the relationship of the banker with the customer is that of
✅ Correct Answer: (A)
Bank as agent and customer trustee
Q. If cheque is crossed an account payee, this is direction of, ------------- to---------------.
✅ Correct Answer: (D)
Drawer, collecting bank
Q. Which is India's first Payment bank?
✅ Correct Answer: (C)
Airtel Payments Banks
Q. Under what section of the Banking Regulation Act, 1949 the payments banks are licensed?
✅ Correct Answer: (A)
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