*BANKING TITBITS:#572* *MOI on Bills Purchased* *Demand Bills* -> A “Demand Bill” is a Bill of Exchange which is either so expressed as payable on demand ‘or at sight’ or ‘on presentment’ or when no time for payment is specified in it. -> A demand bill does not attract stamp duty. A demand bill may either be a clean bill or a documentary bill. -> Clean Demand Bill : It is a cheque or a clean bill of exchange (i.e., not accompanied by a document of title to goods), drawn payable on demand, & purchased by branch. *A Clean Demand Bill is an unsecured bill.* ->Secured Demand Bills : It is a bill of exchange accompanied by documents of title to goods, drawn payable on demand at an outstation place & purchased by the branch. *TEAM CBOA TAMILNADU* (For Educative Purpose & Internal Circulation only, please follow https://tinyurl.com/cboaofficialwhatsappchannel for daily updates)