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In all the business activities, the exchange of goods and services are very common. Goods are bought and sold for cash as well as on credit. In businesses, where a large number of transactions takes place every day, it is quite inconvenient as well as risky for either party to make and receive payments in cash. Therefore, they make use of certain documents as a means of making payment. Some of them are called Negotiable Instruments. In this video, we learn about negotiable instruments, the types of negotiable instruments i.e., Promissory notes, Bills of Exchange, Cheques in detail, that are important for the general awareness and banking awareness section of exams like IBPS RRB Officer, IBPS RRB Assistant, IBPS PO, IBPS Clerk, SSC, RBI Grade B, etc.
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