Question

Will you give loan against a Fixed Deposit Receipt jointly held by two persons with the instructions: payable to either or survivor?

a) No, because either or survivor clause bars the bank

b) No, because FDR is in the names of two persons

c) No, unless necessary documents are signed by both the persons names of whom are appearing on the FDR.

Answer 1

c) No, unless necessary documents are signed by both the persons names of whom are appearing on the FDR.