Question

Q98. Demand Promissory Note payable to bearer can be issued by
O (A) Commercial Banks.
(B) State Government
(C) Any person
(D) RBI

Answer 1

QUESTION :

• Demand Promissory Note payable to bearer can be issued by.

ANSWER :

• Option { D } RBI.

EXPLANATION :

• In India specifically bearer Promissory note are only issued by RBI i.e Reserve Bank of India.

• According to provisions of NEGOTIABLE INSTRUMENT ACT 1881 it is forbidden by RBI to issue bearer promissory note whether it is order or bearer.

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