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Explanation:
credit means the withdrawal of amount from bank is so called as credit
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Answer:
- Credit is nothing but than loan
- It allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date.
- It is important in several aspects like many people wont have ready cash and this will help them in solving their issue , its an assest in several ways at the same time if there is a high interest we cant do anything
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