WHAT IS RETAINED BILL?

retained bill means the drawer has kept the bill with himself till the time of maturity.he did not endorse it to the third party or discounted it with the bank.on the maturity date the drawee will pay the given amount to the drawer for the purchase of goods on credit earlier.

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Retained bill means that the bill that has been kept with drawer himself. It has not been endorsed or discounted by bank or given to bank for collection
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