Challenger App

No.1 PSC Learning App

1M+ Downloads
Banker’s Role in Collecting Cheques

ATrustee

BBailee

CAgent

DDebtor

Answer:

C. Agent

Read Explanation:

While collecting cheques or paying bills, the bank acts as an agent for the customer (principal).


Related Questions:

Nomination can be accepted in the following type of account?
White Card refers to
Which one of the following is NOT correct about a promissory note?
  1. The right of appropriation arises when a customer owes more than one debt to the bank.

  2. The right of appropriation applies only when the payment made is sufficient to clear all debts.

Which of the statements given above is/are correct?

Which department of RBI is responsible for printing and issuing currency notes?