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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-5

  • question_answer
    We often read about the in- creasing trend of 'Plastic Money' in newspapers and financial magazines. In this respect, which of the following is/are not the forms of Plastic Money?

    A)  Debit Card

    B)  Cash Card

    C)  Credit Card

    D)  Banknote

    E)  Store Card

    Correct Answer: D

    Solution :

     A banknote (paper money) is a type of negotiable in strumming known as a promissory note, made by a bank. Payable to the bearer on demand. National banknotes are legal tender, der. meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial obligation. The Reserve Bank has the sole authority to issue banknotes in India.


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