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if anybody tell me difference between DD, PO & Cheques
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Answer / vijay krishna y
Hi,
DD (Demand Draft) and Payorder of the same nature and
cannot be bounced with the financial reasons (or made stop
payment) as the value of the instruments was received
already by the Bank. The difference between this two is
Payorder would be issued in the CITY only. DD can be issued
on the other city.
Cheque can be issued to within the City or other than that
city. Cheque can be returned with the financial reasons.
| Is This Answer Correct ? | 27 Yes | 4 No |
Answer / b.v.k.siva prasad
DD=DEMAND DRAFT
1.IT IS PURCHASED BY PAYING CASH IN ANY BANK TO ENABLE YOU
OR OTHERS TO DRAW THE CASH ON PRESENTING THIS INSTRUMENT AT
A SPECIFIED BRANCH OR THROUGH CLEARING.
PO= PAY ORDER
IT IS ALSO AN INSTRUMENT PURCHASED BY PAYING CASH BUT COMES
BACK TO THE SAME BRANCH FROM WHERE IT WAS ISSUED FOR PAYMENT.
CHEQUE :
CHEQUES WERE ISSUED BY ACCOUNT HODERS FOR PAYMENT TO SELF
OR TO OTHERS WITH OR WITHOUT BALANCE IN THE ACCOUNT.
ALL THESE INSTRUMENT ARE NEGOTIOABLE INSTRUMENTS UNDER N.I Act..
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / suresh
DD PAYABLE ALL BRANCHES FOR INTERSTATE & PARTY ACCOUNT
DEBIT NO ANY CHANCE FOR BOUNCEING , PAY ODER MADE ONLY
DELHI (NCR ) THAT SAME CONDITIONS AS DD & CH.PAYABLE ALL
BRANCHES AS
| Is This Answer Correct ? | 9 Yes | 6 No |
Answer / b.c.tewari
Demand Draft (DD)- Can issue for anywhere in India.The main
benefit of dd ,it could not be bounced.& loss,once we
issued the dd one can not stop it that means 100% gauranty
of payment.
Pay Order (PO)- Can issue for a limited states like
NCR.same benefits/losses as above.
Cheques- can issue to anyone.
| Is This Answer Correct ? | 12 Yes | 9 No |
Answer / adal
*DD & Chq is a Negotiable Instrument but PO is not.
*DD cant be stopped but Chq can be stopped
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / vijay krishna
The DD & PO are the instruments for which the value is
already received by the Bank. Hence cannot be marked under
stop payment. DD is drawn on other city locations and
payorder are drawn on the same location.
A cheque is a bill of exchange and can be returned by the
Bank as the value is not received by the Bank in case of
any monetary or technical reasons.
All the instruments are negotiable instruments.
| Is This Answer Correct ? | 2 Yes | 2 No |
what is composition vat
hii,i was appeared in recruitment process of Catholic Syrian Bank.Interview question were general banking related... as what is crr,calling rate, current inflationrate etc
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