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      Question

      (PYQ) Under the Negotiable Instruments Act, 1881, a

      "Cheque" is defined as a Bill of Exchange drawn on a:
      A Specified Banker Correct Answer Incorrect Answer
      B Public Sector Bank only Correct Answer Incorrect Answer
      C Scheduled Bank only Correct Answer Incorrect Answer
      D Any Financial Institution Correct Answer Incorrect Answer
      E Reserve Bank of India Correct Answer Incorrect Answer

      Solution

      Section 6 of the NI Act defines a cheque as a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. It specifically includes the electronic image of a truncated cheque and a cheque in electronic form.

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