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Discussion :: Banking Awareness

  1. A cheque crossed as ‘Payees a/c only” is direction to

  2. A.

     The payee not to negotiate the cheque.

    B.

     The paying banker to ensure that the proceeds of the cheque are credited to the payees a/c only.

    C.

     The collecting banker to ensure that the proceeds of the cheques are collected for the account of the payee only.

    D.

     None of the above

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    Answer : Option C

    Explanation :

    Explanation Not Provided


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