Thr bank issues a financial instrument with the help of which money can be sent from one place to another. Identify this instrument.
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Bank Draft
Bank Draft: It is a financial instrument with the help of which money can be remitted from one place to another. The bank issues a draft for the amount in its own branch at other places or other banks in those places. The payee can present the draft to the drawee bank at his place and collect the money. Bank charges some commission for issuing a bank draft.
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