HomeTestsSearchRankProfile
mediumMCQIndian Competitive Exams2026Economics
1 mark

Which of the following is called a 'Banker's Cheque'?

  1. A
    Demand Draft
  2. B
    Debit Card
  3. C
    Pay Order
  4. D
    Fixed Deposit

Solution & Step-by-step Explanation

A Pay Order is a financial instrument issued by a bank to make local payments on behalf of a customer. Since it is pre-paid and guaranteed by the bank itself within a specified local clearing clearing zone, it is widely referred to as a "Banker's Cheque."

Practice this question

Try it yourself before checking the explanation above.

Which of the following is called a 'Banker's Cheque'?
A
Demand Draft
B
Debit Card
C
Pay Order
D
Fixed Deposit

Share This Question

BankingFinancial InstrumentsEconomic Terminology

Related Questions

easyMCQ

Which one of the following statements is true?

easyMCQ

Which of the following statements is not correct?

easyMCQ

Which one of the following statements is correct?

easyMCQ

The product formed by the reaction of an aldehyde with a primary amine is:

easyMCQ

Which part of the tobacco plant is infected by Meloidogyne incognita?

easyMCQ

The term ecosystem was coined by:

Ready for a Full Test?

Practice with timed mock tests and track your performance across Economics.

Browse TestsLeaderboard

Discussion