Question
Which of the following bank facility allows a bank
customer to withdraw more money than is currently available in his/her account ?Solution
An overdraft (OD) facility is a financial arrangement between a bank and a customer, that allows the customer to withdraw more money than is currently available in their account . It is to withdraw money more than the balance available in their bank account to overcome working capital requirements. OD is a short-term loan that must be repaid as determined by the bank. It can be available even if the account balance is zero. Such a facility is available in both secured and unsecured ways. The borrower can be individuals, self-employed professionals, etc.
Which of the following is also known as the reserve currency with IMF?
India's wholesale price index (WPI)-based inflation in July came in at_________, significantly higher than (-)4.12 percent reported in June on account o...
Under which act did the Reserve Bank of India (RBI) introduce the 'Marginal Cost of Funds Based Lending Rate' (MCLR) system to determine lending rates?
__________ has partnered with HSBC to advance green hydrogen production aiming to to improve efficiency, cost-effectiveness, and scalability of green ...
What is Value at Risk (VaR) primarily used for in risk management?
Which of the following is a system that powers multiple bank accounts into a single mobile application (of any participating bank)?
Where are the headquarters of Indian Farmers Fertiliser Cooperative?
Reserve Bank continued to act as the Central Bank for Burma till?
The Indian government has raised the windfall tax on petroleum crude to _______ per metric ton from zero.
Government of India has undertaken Switch Operation of Rs .________ Crore with RBI?
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