Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
Section 5 of the NI Acts 1881 defines a bill of exchange as under “A bill of exchange is an instrument in writing containing an unconditional order, signed by…
Section 22 of Negotiable instrument act 1881 provides that “every promissory note, bill of exchange which is not expressed to be payable on demand, at sight or on presentment is…
A cheque is defined in section 6 of Negotiable Instruments acts 1881 which provides that, “A cheque is a bill of exchange, drawn on a specified banker and expressed to be…
(The similarities in usage of Hundis in India and Hawala system prevalent in the Middle East and North African countries are discussed in this post) Hundis have been in usage…
Demand bills, Usance bills, clean bills, Documentary Bills, Accommodation bills, Hundis etc. are a different kind of bills of exchange in usage for different types of trade transactions. A cheque is…
Section 4 of NI Act 1881 states that “ A promissory note is an instrument in writing (not being a bank note or currency note), containing an unconditional undertaking, signed by…
Meanings of maker/drawer, drawee, payee, holder, holder in due course, endorser, endorsee, endorsement, drawee in the case of need, Acceptor for honour, who are parties to a negotiable instrument is…
A promissory note or bill of exchange or cheque payables either to the order or bearer are deemed as the instruments under negotiable instrument acts of 1881. The promissory note…
As per RBI’s advise Indian Banks Association made certain changes in the current common loan application format for MSME loans and circulated to its member banks for adoption.The revised format…
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