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 Interest is charged on the amount actually withdrawn.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.

B Only II is true

C both I & II are true

D None is true

E None of these

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RBI Grade B

Which of the following is true about Cash Credit (Bank

Solution

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