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प्रश्न
Answer in one sentence:
What is a Letter of Credit?
उत्तर
A Letter of Credit is a payment or method, generally used for an international trade transaction.
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संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
A slip used for depositing cash and cheque in the Bank account.
Select the correct answer from the options given below and rewrite the statement.
Withdrawals are not permitted from the ____________ deposit account.
Select the correct answer from the options given below and rewrite the statement.
Generally Interest is not paid on ___________ deposit account
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Lost cheque | 1) Board of Directors |
| b) Appointment of Banker | 2) Higher rate of interest |
| c) Cash credit | 3) Used for depositing cash and cheque |
| d) Fixed Deposit Account | 4) Stop Payment |
| e) Savings Account | 5) Restrictions on withdrawals |
| f) Pay-in-slip | 6) Separate Account |
| g) Overdraft facility | 7) Current Account |
| 8) Recurring Account | |
| 9) Shareholders | |
| 10) No interest is paid | |
| 11) Used for withdrawing amount from account | |
| 12) Long term credit facility | |
| 13) Certain restrictions on withdrawals | |
| 14) Dealing in foreign exchange |
State whether the following statement is true or false :
Generally no interest is paid by bank on Current Account.
State whether the following statement is true or false :
Board resolution is not required to open the Current Account with the bank.
Complete the sentence:
Accepting deposits and lending money are the primary functions of ______
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Primary Function | __________ |
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| International Trade Transactions | __________ |
Answer in one sentence:
Which facility is given to Current Account holder?
Attempt the following:
Write a letter to the bank to stop payment of cheque.
Attempt the following:
Write a letter requesting the bank for granting overdraft facility
Justify the following statement:
Overdraft facility is given only to current depositors?
Explain the different types of deposits
Distinguish between the following:
Fixed deposit account and recurring deposit account
Distinguish between the following:
Loan and overdraft
Explain the following term/concept:
Stop payment of cheque
Correct the underlined word and rewrite the following sentence:
Under Cash Credit facility businessman /Accountholder can overdraw from his account.
Explain the following term/concept:
Loans
