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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 short term credit facility given by bank to current account holder.
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.
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.
Select the correct answer from the options given below and rewrite the statement.
The appointment of banker is usually made by the _______.
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.
State whether the following statement is true or false :
Overdraft facility is granted to Savings account holders.
Find the odd one:
Complete the sentence:
Accepting deposits and lending money are the primary functions of ______
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’ |
| International Trade Transactions | __________ |
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| ________________ | Current Account |
Justify the following statement:
The bank accept two types of deposits from the public i.e. demand and time deposit?
Explain the different types of deposits
Explain the following term/concept:
Stop payment of cheque
Correct the underlined word and rewrite the following sentence:
Businessman opens Fixed Deposit Account.
