Question

A lender relies on various sources of information to confirm a business’ operational and financial data . Which of the following documents are used by a lender for this purpose ?
A. Bank statements
B. GST returns
C. IT returns

Q: Answer-A lender relies on various sources of information to confirm a business’ operational and financi...

As part of due diligence, a banklender must use various internal and external sources to assess the credit profile of a borrower. This would include Internal Sources Existing to the Bank-Past track, personal credit history of promoters External Databases CRILC, CIBIL, ROC, CERSAI , wilful defaulter list, credit fraud registry, etc Documents submitted by the client Annual reportBank statementsGST ITR Market Feedback Visit to the borrower s residenceofficeplant etc. without prior permission and gather information from nearby available sources.