Question

Consider the following statements

Letter of undertaking (LOU) are used by a bank’s customer to avail short-term credit in a foreign country
Nostro account refers to an account that a bank holds in a foreign currency in another bank
Select the correct statements

1 Only
2 Only
Both 1 and 2
Neither 1 nor 2

Answer 1

Hye!!!!.
.
.
The correct option is : C). both 1 nd 2

1 Letter of undertaking (LOU) are used by a bank’s customer to avail short-term credit in a foreign country.
2.Nostro account refers to an account that a bank holds in a foreign currency in another bank..

#riShu;-)