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प्रश्न
Explain the following term/concept:
Cash Credit.
उत्तर
(1) Under this arrangement, a banker asks the borrower to open a separate account. Then bank places sanctioned loan amount to the credit of this account. The customer is allowed to withdraw from this account as and when he needs money and is allowed to deposit in his account any surplus that he has.
The customer is charged interest on the actual am0unt utilised by him.
(2) Cash credit arrangement is for a longer period than an overdraft. The customer can save interest by depositing the excess amount not needed and withdrawing the amount as and when he needs it. This system of lending is very popular only in India among traders, industrialists, etc. Bank demands some tangible securities such as stock of raw material, finished goods, etc
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संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
The account which is generally opened by business organization.
Select the correct answer from the options given below and rewrite the statement.
Bank is a _______ institution
Select the correct answer from the options given below and rewrite the statement.
Resolution for opening Bank Account is passed in the _________ meeting.
Select the correct answer from the options given below and rewrite the statement.
__________ is used for depositing cash into a bank account.
Write a word or a term or a phase which can substitute the following statement:
The type of account for which higher rate of interest is paid to bank depositors..
Write a word or a term or a phase which can substitute the following statement:
The slip which is used for withdrawing money from Savings 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:
A financial institution which receives deposits and lends money is called as __________
Complete the sentence:
A facility under which a customer can overdraw money from his account is called as ___________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| ________________ | Current Account |
Answer in one sentence:
What is a Letter of Credit?
Answer in one sentence:
Which facility is given to Current Account holder?
Answer in one sentence:
What do you mean by stop payment of cheque?
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
Distinguish between the following:
Current account and saving account:
Explain the following term/concept:
Letter of Credit
Correct the underlined word and rewrite the following sentence:
Businessman opens Fixed Deposit Account.
