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प्रश्न
What is meant by an overdraft facility given by a commercial bank?
थोडक्यात उत्तर
उत्तर
- An overdraft allows a current account customer to withdraw more than their credit balance up to a specific limit.
- Overdrafts are temporary and come with interest charges.
- Commercial banks offer overdraft facilities based on asset security or the account holder's personal security.
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