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

    Question

    Which of the following is true about Cash Credit (Bank

    Loan)? I. Cash credit is an arrangement whereby the bank allows the borrower to draw amount up to a specified limit. II. Interest is charged on the amount actually withdrawn.
    A Only I is true. Correct Answer Incorrect Answer
    B Only II is true Correct Answer Incorrect Answer
    C both I & II are true Correct Answer Incorrect Answer
    D None is true Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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