Scribd Logo
Upload

Welcome to Scribd!

  • 356 views

    Answer of Bank Questions

    Uploaded by

    abu hanif
    The document discusses various types of cheques including apparent tenor, material alteration, stale cheques, specially crossed cheques, and payment in due course. It also provides examples of calculating interest on a fixed deposit and answers questions about returned cheques, proprietorship seals, joint accounts, exceeding vault limits, and exchanging mutilated notes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Answer of Bank Questions

    Uploaded by

    abu hanif
    356 views2 pages
    The document discusses various types of cheques including apparent tenor, material alteration, stale cheques, specially crossed cheques, and payment in due course. It also provides examples of calculating interest on a fixed deposit and answers questions about returned cheques, proprietorship seals, joint accounts, exceeding vault limits, and exchanging mutilated notes.

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses various types of cheques including apparent tenor, material alteration, stale cheques, specially crossed cheques, and payment in due course. It also provides examples of calculating interest on a fixed deposit and answers questions about returned cheques, proprietorship seals, joint accounts, exceeding vault limits, and exchanging mutilated notes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    356 views2 pages

    Answer of Bank Questions

    Uploaded by

    abu hanif
    The document discusses various types of cheques including apparent tenor, material alteration, stale cheques, specially crossed cheques, and payment in due course. It also provides examples of calculating interest on a fixed deposit and answers questions about returned cheques, proprietorship seals, joint accounts, exceeding vault limits, and exchanging mutilated notes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 2

    1) Apparent Tenor: Date, sign, amount in words, name of the payee is included in the

    apparent tenor. For example- If a customer places a postdated cheque and as a banker, I
    have honored the cheque without checking those then I have not maintained the apparent
    tenor.
    2) Material Alteration: If there is alternation like overwriting occurs on the cheque then
    the A/C holder need to put a signature beside that alteration.
    3) Stale cheque: If the date on the cheque is before 6 months of the placement or it is the
    future date then this type of cheque is known as steal cheque.
    4) Specially crossed cheque: A seal is marked on the left-hand side of the cheque putting
    the specific bank A/c name. This means that only that institution has authority to cash the
    amount. The other institution will not be able to cash amount the money.
    5) Payment in Due Course: Payment with maintaining every procedure with integrity and
    with no negligence.

    6. A customer wants to know the exact amount of payable interest against an FDR for BDT
    5.0 Lac only, Tenor 1 year.
    Answer: Currently the fixed deposit rate is 5.6%
    So, after 1 year he will get interest of: 5,00,000 of 5.6% = 28,000
    After tax deduction the final interest amount will be= 28000- (28000 of 15%) = 23,800 (If tax Id
    is not provided)
    The final amount = 23800-150 = 23650
    If tax ID is provided then = 28000- (28000 of 10%) = 25200
    The final amount = 25200-150 = 25050

    A cheque against a proprietorship account has been written as “Pay to Salam” and placed
    on your counter. There are no proprietorship seals on the back of the cheque.
    Answer: If the seal of the proprietor is on the front page beside the signature, then in the back
    part of the cheque seal is not mandatory.

    In case of an account having special instruction “Either or survivor” the primary account
    holder dies and the nominee claims money.
    Answer: Either or survivor is usually written on joint account. If an account holder died then the
    other member has the right for the account. So, nominee will not get the money according to this
    situation.

    Vault limit is exceeded at day end.


    Answer: If the vault limit is exceeded at the end of the day, then it should be mailed for global
    insurance. However, now this email is automatically generated but the branch needs to inform
    the cause of exceeding the vault limit.
    A clearing cheque has been returned unpaid.
    Answer: If the clearing cheque has been returned unpaid then the main reason is the insufficient
    balance. For the insufficient balance the cheque information is registered and the extra charge is
    taken against it.
    A mutilated note has been placed on your counter for exchange
    Answer: The mains characteristics of mutilated notes are given below:
    1) If there is tape on the note
    2) If the note is divided into two pieces.
    3) If a part of note is absent and the absent amount is less than 10%
    If these characteristics are shown then next process that should be followed is given below:
    Process: Customer need to fill up a claim form. Bangladesh bank will decide the value of the
    note and the claimed portion will be settled within 8 weeks to 13 weeks. We should not discuss
    the amount of money is going to get because Bangladesh Bank has the whole authority to repay
    against the claimed note after examining. A wrong information can create customer
    dissatisfaction.

    You might also like