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- 16. Shivani deposited Rs. 10000 in Union Bank of India and got Demand Draft. He wants to cancel the Demand Draft. Then ?
A.Once Demand Draft issued, it cannot be cancelled
B.Only after 90 days the Demand Draft can be cancelled, as the Demand Drafts cannot be cancelled during the valid date period.
C.He can approach any public sector bank to cancel the Demand Draft, as Union Bnak of India is also a Public Sector Bank.
D.Demand Draft can be cancelled by Union Bank of India. However the cancellation charges may be there.
Answer & Explanation
Answer: Option D 
Demand Draft can be cancelled by Union Bank of India. However the cancellation charges may be there.
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- 17. Cash credit is one of the forms of ___________
A.Recurring credit to NRI
B.Cash Deposit slip in bank branch
C.Loan
D.Withdrawal facility in minor account
Answer & Explanation
Answer: Option C
Loan
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- 18. One of the highlights of the cash credit is ?
A.Very useful for industrial concerns
B.Renewable loan, if there is no default in the payment of interest
C.Flexible schedule of payments is attractive in this loan
D.All of the above
Answer & Explanation
Answer: Option D
All of the above
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- 19. Bharath has an account in Punjab National Bank. He issued a cheque of Rs. 1000 to Raghu. Who is the drawee in the above case ?
A.Bharath
B.Bharath and Raghu
C.Raghu
D.Punjab National Bank
Answer & Explanation
Answer: Option D
Punjab National Bank
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- 20. Amar has an account in State Bank of India. He issued a crossed cheque to Satish. Then sathish _______
A.Should deposit cheque in his bank account.
B.Satish can cancel the crossing to get cash
C.Can go to bank counter and get money directly
D.Can ask the bank to change crossed cheque in to bearer cheque to get cash
Answer & Explanation
Answer: Option A
Should deposit cheque in his bank account.
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To whom this IBPS PO & Clerks Quiz Set 2 Questions and Answers section is beneficial?
Students can learn and improve on their skillset for using Verbal Ability effectively and can also prepare for competitive examinations like...
- All I.B.P.S and Public Sector Bank Competitive Exam
- Common Aptitude Test (CAT) Exams
- UPSC Paper-II or CSAT Exams
- SSC Competitive Exams
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- L.I.C / G.I.C AO and Clerk Competitive Exams
- Railway Competitive Exam
- University Grants Commission (UGC)
- Career Aptitude Test (IT Companies) and etc.