There are three different types of the crossing of cheques and by check crossing, we mean putting or drawing two parallel transverse lines on the front side of a cheque on the upper left corner, with or without the use of the word like “& CO” “Not Negotiable”.
What is Cheque? Definition, types and parties involved in the cheque. A cheque may be defined as “An order which is unrestricted in written form signed by maker address to a specific bank with the direction to pay a certain specific amount to a specific person on demand”.
To understand what are the main functions of the central bank, firstly we should know about what a central bank is? Every country of the world has its own central bank for resolving all the monetary and credit problems in the country. We can define the central bank as “Central bank is an institution, which is charged with the responsibility of managing the expansion and contraction of the volume in the interest of the general public welfare”.
There are different types of the bank as well as different opinions about the derivation Bank”. Before discussing the types of bank, let’s see what is a bank and from where the word bank had derived. Some authors say that the bank is derived from the word ‘Banco” which means bench.
There are different types of paper money, which uses commonly nowadays all over the world. But before going towards the types of paper money, let’s talk about paper money. What is paper money?