📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    The stand-by Letter of Credit (LC) or Bank Guarantee

    (BG) issued by scheduled commercial banks for Gold (Metal) Loans should be denominated in:
    A Indian Rupees. Correct Answer Incorrect Answer
    B Foreign currency. Correct Answer Incorrect Answer
    C Gold Correct Answer Incorrect Answer
    D Euros Correct Answer Incorrect Answer
    E Both a) and b) Correct Answer Incorrect Answer

    Solution

    The stand-by LC/BG issued for Gold (Metal) Loans should be denominated in Indian Rupees, not in foreign currency or any other form.

    Practice Next
    More Alternate Sources of Finance Questions

    Relevant for Exams:

    ask-question