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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
Select the correct answer from the options given below and rewrite the statement.
Resolution for opening Bank Account is passed in the _________ meeting.
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 :
In cash credit, customers account is credited by bank with sanctioned amount
State whether the following statement is true or false :
Bank correspondence should be brief and to the point.
Complete the sentence:
A financial institution which receives deposits and lends money is called as __________
Complete the sentence:
Overdraft facility is given to __________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Overdraft | __________ |
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 requesting the bank for granting overdraft facility
Attempt the following:
Write a letter to bank for opening a current account
Distinguish between the following:
Loan and overdraft
Explain the following term/concept:
Letter of Credit
Explain the following term/concept:
Time Deposits.
Explain the following term/concept:
Bank
Correct the underlined word and rewrite the following sentence:
Businessman opens Fixed Deposit Account.
Choose the Correct Answer.
The Local Area Banks are promoting ______
