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Negotiable instrument

Sir, Bearer bonds are like promissory note but which are bearer in nature. [In the sense, promissory note includes currency notes of India]


Pranav Connecting...

Pranav Connecting...

CA Inter

4K+

19-Jun-20 19:18

56

Answers (2)

Bonds are instruments which indicate that a loan is given. There is no promise to pay. It is more like a certificate. Promissory notes payable to bearer can be issued only by RBI under the RBI Act.


Suraj Lakhotia

Suraj Lakhotia

Admin

19-Jun-20 19:20

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