What is the difference between check and draft?
Cheque and Demand draft(DD) both are used to make the payments.
|1.||It is issued by the customer||It is published by the bank|
|2.||Payment is made after depositing the cheque||Demand draft is issued after giving the money to the bank|
|3.||Signature is required in cheque||Signature is not required in DD|
|4.||It can bounce||It cannot be dishonored|
BY Best Interview Question ON 01 Feb 2021