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प्रश्न
Justify the following statement:
Overdraft facility is given only to current depositors?
उत्तर
1) A bank overdraft is an arrangement by Which a customer, usually a current account holder, is allowed to overdraw, i.e. withdraw money in excess of his own balance, up to a certain limit sanctioned by the bank for a specified period. By an agreement, the banker undertakes to honors cheques up to a certain limit. This is a kind of temporary loan for which the bank charges interest on the actual amount overdrawn and only for the period for which it is used.
(2) This facility is extended only to current account holders on the basis of collateral (additional) security of goods, raw materials. Shares, bonds, etc. or sometimes even on the personal guarantee of the customer. Businessmen meet their temporary working capital requirements by taking advantage of this facility. The overdrawn amount gets reduced as and when the deposits are made by the account holder. If required, the overdraft facility can be renewed from time to time because every time it is granted for a short duration like a couple of months, or so.
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संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
Permission to withdraw excess amount from Current Account.
Write a word or a term or a phase which can substitute the following statement:
Separate loan account under which the short term loan facility given by bank to the business
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.
Bank provides overdraft facility to ___________ account holder.
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:
Negotiable Instrument which can be discounted with the bank.
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 :
Bank account of company is operated by shareholder.
State whether the following statement is true or false :
Overdraft facility is granted to Savings account holders.
State whether the following statement is true or false :
Banks grant long term loans only.
State whether the following statement is true or false :
Bank correspondence should be brief and to the point.
Find the odd one:
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’ |
| International Trade Transactions | __________ |
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| ________________ | Current Account |
Attempt the following:
Write a letter requesting the bank for granting overdraft facility
Distinguish between the following:
Loan and overdraft
Explain the following term/concept:
Stop payment of cheque
Choose the Correct Answer.
Bankers are not only dealers of money but also leaders in ______
