Which one the following statements is correct regarding the Negotiable Instruments Act in India

Correct option is A

Negotiable instrument act – It is an Indian law that regulates negotiable instruments, such as promissory notes, bills of exchange, and cheques. The act provides a legal framework for the transfer of such instruments from one party to another and establishes the rights and liabilities of the parties involved.
 Statement 1 - A cheque is always drawn on a banker
A cheque necessarily fulfils all the requirements of a bill of exchange, that is, it must be signed by the drawer and must contain an unconditional order on a specified banker to pay a certain sum of money to or to the order of a certain person or to the bearer of the cheque. It does not require acceptance.
 Statement 2-. A cheque requires acceptance by the drawee
A cheque is a bill of exchange drawn on a specified banker and not expressed to the payable otherwise than on demand. Unlike a bill of exchange, a cheque does not require acceptance.
Hence, this statement is incorrect.
 Statement 3-. A cheque requires acceptance by the drawee.
A bill of exchange must be unconditional and payable at all events. It requires the drawee to pay on demand. No bill of exchange payable to the bearer on demand can be drawn by a person other than the RBI or the Central Government.
Hence, this statement is incorrect.
 Statement -4 A promissory note containing a conditional promise to pay is a valid promissory note.
The promise should be absolute. If any negotiable instrument attached to any condition will terminate the negotiability features of the instrument. The promise must be unconditional in all cases.
Hence, this option is incorrect.