Question

Explain the mechanism of banks in relation to sanctioning of loan .​

Answer 1

Answer:

hii

there is a simple mechanism of banks but some ti.es due to greedy banker a common people faces many dificulties.

Explanation:

so the mechanism is that bank do not give loan in a simple way the mortgage any your thing in need or give of money, like property house and any other things

they also apply a few or few interest on the loan.

the major thing you have to know that is very important for you is

That interest applied on the loan

will resume .means the if you take loan 1lakh and in 1 month you paid 30 thousand from 1 lakh

then interest will applied on the remaining 70 thousand loan.

i know only is that

i hope this will help you