As we all know, when we deposit a cheque issued in our name in the bank, the bank always checks if the cheque has been c

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Q 1559101014.     As we all know, when we deposit a cheque issued in our name in the bank, the bank always checks if the cheque has been crossed or not. Why is this done?

A

It ensures that the money is deposited only in the account of the person in whose name the cheque has been drawn

B

It is a process by which the person who has issued the cheque comes to know whether the cheque is encashed or not.

C

The bank insists on it only when the party wants the payment immediately and that too in cash only

D

This is the instruction of RBI that all the cheques of the amount of Rs. 10,000/- should be accepted only if they crossed.

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Solution
(Provided By a Student and Checked/Corrected by EXXAMM.com Team)

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