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Question
A bank draft can be dishonored.
A bank draft can be dishonored.
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Solution
The correct option is B False
A bank draft can be dishonored- this is a false statement. Bank draft cannot be dishonored. As per the RBI guidelines, validity of a
bank draft is 3 months. Bank draft guarantees the underlying funds. A
bank draft is often defined as a cheque drawn by a bank on its own
funds.
A bank draft can be dishonored- this is a false statement. Bank draft cannot be dishonored. As per the RBI guidelines, validity of a bank draft is 3 months. Bank draft guarantees the underlying funds. A bank draft is often defined as a cheque drawn by a bank on its own funds.
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