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प्रश्न
Explain the following term/concept:
Loans
उत्तर
1) Loan is an arrangement by which the bank advances an amount against securities like shares and debentures, government bonds insurance policies or valuables like gold ornaments, jewelers, etc. This amount is either paid in one sum or is credited to a separate loan account in the name of the customer. It is granted for a fixed period. Interest is payable on the entire amount sanctioned irrespective of the amount actually withdrawn by the borrower.
2) Short term loans are provided for the period of not more than 1 year. It is required by businessman to meet the need of working capital. Bank charges interest at the rate higher than is charged on overdraft. Medium term loans are provided for a period from 1 year up to 5 years. Interest charged on this type of loan is higher than interest rate charges on short term loan. Long term loans are provided by the bank for the period more than 5 years. It is given for growth and development of the business. Interest charged on the long term loans is higher than that is charged on Medium term loans.
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संबंधित प्रश्न
Select the correct answer from the options given below and rewrite the statement.
A company usually opens _____________ account in a bank.
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 |
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 :
Joint Stock Company opens Current Account.
Complete the sentence:
A financial institution which receives deposits and lends money is called as __________
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Overdraft | __________ |
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Primary Function | __________ |
Answer in one sentence:
What is a Letter of Credit?
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.
Explain the different types of deposits
Distinguish between the following:
Loan and overdraft
Explain the following term/concept:
Stop payment of cheque
Explain the following term/concept:
Letter of Credit
Explain the following term/concept:
Cash Credit.
Choose the Correct Answer.
Bankers are not only dealers of money but also leaders in ______
Write the meaning of ‘Bank.’
Choose the Correct Answer.
The Local Area Banks are promoting ______
