New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the primary purpose of a Bank Guarantee?

    A To purchase goods and services. Correct Answer Incorrect Answer
    B To secure a loan from a bank. Correct Answer Incorrect Answer
    C To provide insurance coverage. Correct Answer Incorrect Answer
    D To ensure performance of a contract or payment obligations. Correct Answer Incorrect Answer

    Solution

    A Bank Guarantee is typically used to ensure the performance of a contract or the fulfillment of payment obligations.

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