Account Holder is a person designated and is authorized to do business transaction on behalf of an account. The account holder's signature is required on file with the bank. The signature permits that person to conduct business on behalf of the account.
Multiple Choice Question
Question: Account Holder X draws cheque for Rs 10000 in favor of Rakesh (minor aged 12 years) or bearer. Rakesh presents the cheque on counter duly signed on back. What should the banker do with the cheque of a minor?