Question

Difference between cash credit and overdraft

Answer 1

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Answer 2

• cash credit
• overdraft

• Cash credit is a type of short term loan provided to companies to fulfill their working capital requirement.
• Overdraft is a facility given by the bank to companies, to withdraw money "more" than the balance available in their respective accounts.

• Pledge or hypothecation of inventory.
• Assets like financial instrument and property.

• Cash Credit Account
• Current Account

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