Question
An LC which authorises the Advising Bank, to transfer,
at the request of the First Beneficiary the credit available in whole or in part to one or more other beneficiaries ( Second Beneficiaries) is known as _______Solution
A transferable credit is one that can be transferred by the original (first) beneficiary to one or more second beneficiaries. Unless specifically stated anLC is not transferable i.e. the LC is deemed to be transferable only if it is stated to be ‘Transferable’ in the LC. Second beneficiary has no right to transfer to third beneficiary
What is the full form of the term LIBOR as used in financial/banking sector?
Which of the following statements is FALSE about the function of a commercial bank
RBI was initially constituted to ___________.
Match the following:
A) Bank Rate P) Minimum interest rate bank is allowed to charge
B) Base Rate Q) Price of a ...
The European country which is the guarantor of Bank of Central African States is
eVIN stands for?
The Headquarter of Bhartiya Mahila Bank (BMB) is situated at
Under which scheme, a saving account can be opened in the name of girl child and deposits can be made for 14 years and the girl is allowed to withdraw 5...
Which of the following organizations associated with investigations in an act of Money laundering ?
A shopkeeper allows a discount of 20% on a product and incurs a loss of 15%. If the difference between the discount given and the loss is Rs. 220, find ...
Relevant for Exams:
