[Solved] As per the Banking Regulation Act, 1949, deposits accepted for banking are withdrawable by? — Ans: Cheque, draft, order or otherwise | Financial Awareness

Financial Awareness - Risk, Stability & Emerging Finance

As per the Banking Regulation Act, 1949, deposits accepted for banking are withdrawable by?

ACheque, draft, order or otherwise

BCash only

COnline transfer only

DFixed notice period only

Step-by-Step Solution

Step 1: Recall the exact legal wording
The Act states deposits are withdrawable by cheque, draft, order or otherwise.
Step 2: Eliminate limited options
Other options restrict withdrawal modes which is not as per the broad legal provision.
Final Answer:
Cheque, draft, order or otherwise → Option A
Quick Check:
Withdrawable by cheque, draft, order or otherwise ✅

Quick Trick: Key phrase: 'cheque, draft, order or otherwise' for banking deposits.

Common Mistakes:

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As per the Banking Regulation Act, 1949, deposits accepted for banking are withdrawable by?