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Currency notes are promissory notes payable to the bearer on demand.section 31 of RBI ACT provides that no one other than RBI or Central Govt. Can issue a promissory note or bill of exchange payable to bearer on demand...hence no cheque works just as a currency note.

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Which cheque works just like currency notes?

traveler's check is a preprinted, fixed-amount cheque designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.They were generally used by people on vacation instead of cash as many businesses used to accept traveller's cheques as currency. Their use has been in decline since the 1990s as alternatives, such as credit cards, debit cards, and automated teller machines became more widely available and were easier and more convenient for travelers.


Are there individuals who specialize in online currency trading?

There are individuals and companies who specialize in online currency trading. Currency is just like any other commodity such as, sugar, wheat, corn, oil, textiles, silver, etc.


What does a bank cheque look like?

The look of a bank cheque varies depending on the bank. Most banks will have an official seal so that people will know it is valid.


What does German currency look like?

Well the German currency used to be the Deutsch Mark but like many other European nations has changed over to the Euro somewhere in 2006 I think. Just google image "Euro currency" and you should find some recent pictures.


Can you cash a check that has had one name on then crossed out and then a different name on?

YES - If the cheque issuer has countersigned after the name alteration NO - If the cheque issuer has not counter signed after the name alteration Any modification in a negotiable instrument like a cheque has to be attested/countersigned by the issuer

Related Questions

You have to make a payment to Eire in euros can you just write a cheque out from your account in euros?

If your own account is in Euros and you have a cheque book for Euros, then yes you can. If it is any other currency that you are working from you will need to get something like a bank draft. You bank will tell you if you are not sure.


How do you use kroner in a sentence?

Kroner is just the plural form of a currency like "dollars" or "pounds" or "pesos". So, "Do you have any kroner?" works just like "Do you have any dollars?"


Which cheque works just like currency notes?

traveler's check is a preprinted, fixed-amount cheque designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.They were generally used by people on vacation instead of cash as many businesses used to accept traveller's cheques as currency. Their use has been in decline since the 1990s as alternatives, such as credit cards, debit cards, and automated teller machines became more widely available and were easier and more convenient for travelers.


What is the national currency of catalonia?

The currency is the Euro just like the rest of Spain, Catalonia is not an independent state...yet


What was the currency in 1869?

Just like now, there were many different currencies around the world in 1869, not just one.


How old do you have to be to have a cheque book?

You must be 18 years old to hold and use a cheque book independently.


What is the currency in New York City?

Dollar, USD, just like the other US cities


What was the currency under the Articles of Confederation?

Dollar Bills, just like America uses now.


Are there individuals who specialize in online currency trading?

There are individuals and companies who specialize in online currency trading. Currency is just like any other commodity such as, sugar, wheat, corn, oil, textiles, silver, etc.


What does a bank cheque look like?

The look of a bank cheque varies depending on the bank. Most banks will have an official seal so that people will know it is valid.


How can any currency rise in value?

Currencies are bought and sold on the open market - just like other commodities. The more popular a currency is - the higher the selling price will be.


How was british currency added subtracted multiplied or divided?

British currency is pounds (£) and pence (p) with 100 pence in a pound, it can be added, subtracted, multiplied or divided just like any other currency or decimal number