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FINANCIAL EDUCATION
LEARNING VAULT
Know Your Banking - General Banking
Remittances
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1. Although Cheque and Bank draft are negotiable instruments and
serve as means of payment, a draft cannot be issued by a customer
True
False
2.If a demand draft is lost by the purchaser of the draft , he
will not be able to get the money from the bank
True
False
3. The purchaser of the demand draft must be an account holder of
the bank.
True
False
4. Demand draft is paid only after a week of date of issuance.
True
False
5. Demand draft once purchased can not be cancelled.
True
False
6. The payment of demand draft cannot be stopped by the purchaser
True
False
7. Once a demand draft is lost, the purchaser can get a duplicate
subject to certain conditions and payment of charges.
True
False
8. Payee of the demand draft can get a duplicate demand draft if
the original is lost.
True
False
9. For housing loans, the bank pays the cost of stamp fees.
True
False
10. Mutilated currency notes can be exchanged only at private
sector banks.
True
False
11. Bank recovers charges when the customer purchases travellers
cheques.
True
False
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