Puys, which is the best test series? Give detailed names. Can't understand abbreviation.
Since a lot has been going on in Greece lately. So i thought of writing a blog on this. I decided to write this in three parts. Here is the second part of my blog titled 'What's Up With Greece?' . Check the link
http://overthecofffeee.blogspot.in/2015/07/normal-0-false-false-false-en-us-x-none_10.html
For those who haven't gone through the first part can find it in the link below
http://overthecofffeee.blogspot.in/2015/07/normal-0-false-false-false-en-us-x-none.html
hey descriptive papaer mein just letter+essay hai or precise/comprehension bhi hai?
pm st 3 mine only 70 .again cuttoff se less.di and marketing ques i am finding difficult .are u also finding the same or me lacking smwhere
Guys a very silly question at this point of time..... Will the Preliminary marks get added with the score of mains and interview?
I'm writing article on Pros and Cons of Smartphones. @Gobuaa @raring_utk you guys write article on any other topic. Okay.
hi um a fresher..so no idea bout banking exams...i qualified the sbi po prelims...can anyone suggest me good books for marketing and computer
guys any one got message for interview asst manager indian bank industry plzz comment
A train after travelling 50 km meets with an accident and then procedes at 3/4 of its former speed and arrrives at the destinton 35 minute late had the accident occured 24 km further it would have reached the destination only 25 minute late find the speed of the train and the distance which the trains travels?
please explain completly
pm mock -3 score- (83.5 +2.5)..rank-2/30..share ur scores plzz
Cp-5 score-77 😞 GA mujh se nhi ho rha hai..news padhti bhi hun to bhul jati hun.. and reasoning k statement assumption wale qs kaise solve krte hain...is there any specific concept to slove it..i loose maximum marks in that... how to improve accuracy ?
Dear Readers,
Current affairs is an important component of several competitive exams such as the UPSC Civil Services Examination, SSC CGL, Bank PO & PSU entrance tests, etc. Therefore, understanding the terms/concepts/events that make news is critical for aspirants. We at PaGaLGuY bring you series of articles explaining some of these important concepts/events. Read on to know about the Negotiable Instruments Act of 1881.
This Act was originally drafted in 1866 by the 3rd India Law Commission and introduced in December, 1867 in the Council and before being referred to a Select Committee. However, oppositions led to several revisions and redrafting procedures. In 1880, by the Secretary of State's order, the Bill was referred to a new Law Commission. Most of Its recommendations were adopted by the Select Committee. The draft was then introduced in the Council and passed as the Negotiable Instruments Act, 1881.
It extends to the whole of India apart from Jammu & Kashmir. The Act is subject to the provisions of Sections 31 & 32 of the Reserve Bank of India Act, 1934.
What is a negotiable instrument?
According to Section 13 of the Negotiable Instruments Act, "A negotiable instrument is a promissory note, bill of exchange or cheque payable either to order or to bearer." In other words, any agreed upon medium of exchange of payment is a negotiable instrument.
While the maker of a negotiable instrument is called the "drawer", the person directed to pay is called the "drawee"
Types of negotiable instruments outlined in the NI Act
Promissory Note- As explained in Section 4 of the act, it is an instrument in writing (not a currency-note) containing an unconditional promise signed by the maker, to pay a specified sum of money only to, or to the order of a particular person, or to the bearer of the instrument.
Bill of Exchange- As explained in Section 5 of the act, it is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument.
Cheque- It is a bill of exchange drawn on a specified bank and not expressed to be payable except on demand, according to Section 6 of the act.
Other negotiable instruments not defined in the act can also be used so long as they (i) are easily transferable by trade; (ii) are free of conditions, defects and the person getting it in good faith is entitled to the amount specified.
Major sections of the NI Act
· Section 15 defines endorsement as when the marker or holder of a negotiable instrument signs the same, otherwise than as such maker, for the purpose of negotiation, one the back or face thereof or on a slip of paper annexed thereto, or so signs for the same purpose a stamped paper intended to be completed as a negotiable instrument, he is said to endorse the same, and is called the endorser.
In other words, when a person writes his/her name on the back of the instrument or any paper attached to it, he/she does so with intent of transferring the rights. The person who makes the endorsement is called 'endorser' and the person who receives the instrument is called 'endorser'.
· Section 17 defines ambiguous instrument as one that is either a promissory note or bill of exchange. The holder may choose to use it as either.
· Section 118 and 119 specify presumptions that are presumed to exist in every negotiable instrument and thus need not be proved. The presumptions, unless proved to the contrary, are as follows:
(a) of consideration- It shall be presumed that every negotiable instrument was made drawn, accepted or endorsed for consideration.
(b) as to date - That every negotiable instrument bearing a date was drawn on or made on said date.
(c) as to time of acceptance. - That every accepted bill or note was accepted within a reasonable time after its date and before its maturity.
(d) as to time of transfer. - That every transfer of a negotiable instrument was made before its maturity.
(e) as to order of endorsements - That endorsements written upon a negotiable instrument were made in the order in which they appear thereon.
(f) as to stamp - That a lost promissory note, bill of exchange or cheque was duly stamped.
(g) Holder is a holder in due course - That the holder of a negotiable instrument is a holder in due course.
· Section 138 outlines penalties in case of dishonour of certain cheques due to insufficient funds in the specified account. The following should be proved to constitute an offence under this act:
a. A person must have drawn a cheque on an account of his in a bank for payment of a specified amount of money to another person from that account.
b. The cheque should have been issued for the discharge, in part or whole, of a debt/liability.
c. The cheque was presented to the bank within a period of three months from the date of its drawing or within its validity period.
d. That cheque is returned by the bank unpaid, either because of the amount of money standing to the credit of the account is insufficient to honour the cheque or that it exceeds the amount to be paid from that account by an agreement made with the bank.
e. The payee or the holder of the cheque demands for payment of the specified amount of money by giving a written notice, to the drawer of the cheque, within 30 days of getting informed by the bank about the return of the cheque as unpaid.
f. Finally, if the drawer of such cheque fails to make payment of the said amount of money to the payee within 15 days of the receipt of the said notice.
Highlights of the Negotiable Instruments (Amendment) Bill, 2015
· This Bill was passed on May 13 this year by the Lok Sabha seeking reversal of a 2014 Supreme Court ruling that said the case has to be filed where the cheque-issuing branch of the bank was situated.
· On June 10, the Cabinet decided to bring in an ordinance to amend the parent act i.e. the Negotiable Instruments Act, 1881 that stipulates filing of cheque bounce cases in the place where the cheque was issued.
· The aim is to accelerate settlement of cheque bounce cases piling up in courts (21 lakh such cases in 259 courts).
· Clarity on jurisdiction for trying such cases would increase the credibility of the cheque as a financial instrument.
· It also seeks to amend the definition of cheque in the electronic form. While the parent act defines it as a cheque containing the exact mirror image of a paper cheque, generated in a secure system using a digital signature, the amendment bill re-defines it as a cheque drawn in electronic medium using any computer resource, which is signed in a secure system with a digital signature, or electronic system.
To know about the RBI Act of 1934, visit the link below:
http://www.pagalguy.com/articles/sbi-po-2015-gk-update-the-reserve-bank-of-india-act-1934-3478684
To get fresh updates about different exams on your Facebook & Twitter timelines, subscribe to our pages created specifically for them. We will post only exam specific links on these pages:
Bank PO:
FB: https://www.facebook.com/pagalguybankpo
Twitter: https://twitter.com/PaGaLGuYBankPO
SSC & Other Exams:
FB: https://www.facebook.com/pages/Pagalguy-SSC-CGL-Others/879667042056262
Twitter: https://twitter.com/pagalguyssc
UPSC:
Facebook: https://www.facebook.com/pages/Pagalguy-UPSC/951926044840262
Twitter: https://twitter.com/PaGaLGuYUPSC
advantage of classroom education over distance learning
education makes the people easy to lead but difficult to drive ,easy to govern but impossible to enslave .This proverb is absolutely true .A man without education is a roof without a shade ,a boat without any destination .Education not only help in developing one's personality but also infuse innovative ideas and new dimension to a man's life.
With various changes taking place around us the access to have education has also changed.Old traditional classroom learning been replaced by e-learning , distance learning education.Distance learning is more popular among youths but still the advantage that one have by classroom cannot be matched.Classroom not only exposes oneself to different section of society but at the same time one have an amalgamation of different thoughts , ideas ,views ,one have face to face confrontation with his peers which not only give him an opportunity to express or represent his views but also confidence to put his thoughts forward.It increases one's capability to take up new challenges by getting embroiled in different tasks or projects.Classroom learning not only makes someone self-independent bot also teaches discipline ,hardwork, integrity ,loyalty ,respect ,unity,audacious behaviour which are some important lessons of life that cannot be learned through distance learning.Since man learns more when he observes things around thus classroom learning is best to inculcate values of nationhood and family in one's life
no doubt now a days technology has spread all around the world still unable to beat traditional methods of study.old is gold and will always be-traditional methods have their own value and no advance technology can eradicate it.
appreciation and critisim will be welcomed.sugge to improve and if i have miss smpoints pls guide me
can we expect the CASE-study question in reasoning section, in which different cases are given and we have to decide whether a candidate will be selected or not and refer.....like that.
just completed mahendras ST-82 SBIPO MAINS......level of ST was very low...not up to the sbi mains level....around 20-30 questions in english and GK were from previous ST.....they are asking series and inequality questions in DI section.....pls someone tell them :-P ..thr is Only DI in sbi po mains syllabus....
DS:
What is the number?
I. The sum of the two digits is 10. The ratio of the two digits is 1 : 4.
II. The product of the two digit of a number is 16.
oliveboard sbi po mains test 1...score 93.5..
very good quality paper...similar to sbi mains...whats ur score puys??....anybody attempting this?
hey guys i need ur hlp.. Bankersadda pr jo gk capsule n computer capsule dala h..vo mere laptop pr dwnload ni hora h..agr ap me se kisi k pas h to mail me at [email protected] its a request pls..?
Just a clarification needed.
Soap is a Product Line
Lux, Dove, Dettol represents Product Depth. Am I right?
What is current fiscal deficit target?
(dont know the right ans thats why not marking)
- 3.9%
- 4.1%
0 voters