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Describe how cheque payments are made and realised.

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Class 10th Important Question

CBSE 2022-2023

NCERT Social Science

Class 10th Economics CH: 3

CH:3 Social Science, Economics

Important Question for Board class 10th SST CH:3

Important Very Short Answer

Important Question Class 10th SSt Money and Credit

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1 Answer

  1. If a person has to make a payment he issue a cheque for a specific amount in his name such a TPDDL. The TPDDL will deposit the cheque in their own account  in the banks Thereafter, the money is transferred from one bank to another bank account in a couple of days. Thus, transaction takes place without any payments of cash from one bank account to another bank account.

     

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