What is a “Payment Obligation”? Options: A . &nbspontractual obligations of bank to pay an amount owed to another bank B . &nbspcontractual obligations of a Person to pay an amount owed to another C . &nbspobligations of a Person to pay an amount distributed in a group D . &nbspnone of the above

What is a “Payment Obligation”?

Discussion Forum : Nabard & Other Bank Examinations

Question - What is a “Payment Obligation”?

Options:

A . ontractual obligations of bank to pay an amount owed to another bank

B . contractual obligations of a Person to pay an amount owed to another

C . obligations of a Person to pay an amount distributed in a group

D . none of the above

Answer: Option B
“PAYMENT OBLIGATION” IS DEFINED AS WHAT IS OWED BY ONE PARTICIPANT IN A PAYMENT SYSTEM TO ANOTHER SUCH PARTICIPANT WHICH RESULTS FROM CLEARING OR SETTLEMENT OR PAYMENT INSTRUCTIONS RELATING TO FUNDS, SECURITIES OR FOREIGN EXCHANGE OR DERIVATIVES OR OTHER TRANSACTIONS.

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