alleryUnder Section 31 of the RBI Act, who may issue a promissory note payable to bearer on demand?
AAny scheduled commercial bank
BAny registered NBFC firm
CThe SEBI regulator only
DRBI and the Central Government
Answer & Solution
Correct answer: D. RBI and the Central Government
1. The question asks: Under Section 31 of the RBI Act, who may issue a promissory note payable to bearer on demand.
2. Correct answer: RBI and the Central Government.
3. Only the RBI and Central Government may issue bearer demand notes.
_Source: BOI Quick Revision — General Banking & Financial Awareness (2020), RBI Act §31_
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