Q. The paying banker is protected under following SECTION for payment of cheque with forged signature of the drawer.
✅ Correct Answer: (D)
no protection is available
Banking and Finance 3 MCQs and Notes
Q. What happens if a crossed cheque is presented for payment?
✅ Correct Answer: (A)
It can be paid only through a banker
Q. Which of the following permit cheque operation?
✅ Correct Answer: (D)
Savings bank accounts and current accounts
Q. Which of the following Committee recommended to form a new category of Bank Called Payment Banks?
✅ Correct Answer: (C)
Nachiket Mor Committee
Q. To get statutory protection, paying banker must make:
✅ Correct Answer: (C)
Payment in due course
Q. Not negotiable crossing is a warning to the...........
✅ Correct Answer: (C)
Holder
Q. The document which can be used only for making local payment is........
✅ Correct Answer: (C)
A banker's cheque
Q. The paying banker who makes cash payment of a cross cheque at the counter shall be liable for the loss of
✅ Correct Answer: (B)
True owner of the cheque
Q. The paying banker can get protection for a materially altered cheque provided __.
✅ Correct Answer: (D)
Both A and B
Q. A banker should not refuse payment of a cheque if ________.
✅ Correct Answer: (D)
the cheque bears more than two endorsements