Correct option is A
Government promissory notes are promises made by the President or Governor and are regulated by the Indian Securities Act, 1886.
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Question
Which of the following are characteristics of a government promissory note:
(1) It is a promise of the President of India or Governor of a state.
(2) It is regulated by the Indian Securities Act, 1886.
(3) They are not negotiable instruments.
(4) They can be assigned without endorsement.
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