A bill of exchange already accepted can be discounted by the holder in?
Answer Details
A bill of exchange that has already been accepted by the drawee (the person or entity who is ordered to pay the bill) can be discounted by the holder (the person who is entitled to receive payment) at any bank. This means that the holder can receive the funds from the bank before the due date of the bill, in exchange for a lower amount than the face value of the bill. The bank then becomes the new holder of the bill and assumes the responsibility of collecting payment from the drawee when the bill matures. The holder does not need to go to his bank or any specific bank, as any bank can provide this service.