Anil sold goods to Bimal for 50,000 and immediately drew a three months bill for the same. Bimal accepted the bill and returned it to Anil. Anil endorsed the bill to Chander in full satisfaction of his debt of 51,000. Chander got the bill discounted with State Bank of India @ 12% p.a. discount. Identify the 'payee'.

Question

Anil sold goods to Bimal for 50,000 and immediately drew a three months bill for the same. Bimal accepted the bill and returned it to Anil. Anil endorsed the bill to Chander in full satisfaction of his debt of 51,000. Chander got the bill discounted with State Bank of India @ 12% p.a. discount. Identify the 'payee'.