Discuss the statutory protection granted to the collecting banker under the Negotiable Instrument Act, 1981.

A crossed order cheque for Tk. 3000 drawn on 'X' bank is collected by 'P' bank for the latter's customer in whose favour it has been endorsed by the payee. Discuss the position of the payee bank and the collecting bank :

(i) if the signature of the drawer has been forged.
(ii) if the endorsement of the payee has been forged.