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if anybody tell me difference between DD, PO & Cheques
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Answer Posted / 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..
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