Business Studies, asked by NeverMind11, 9 months ago

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Q. PLEASE EXPLAIN CASH CREDIT. ​

Answers

Answered by mahira15
2

Explanation:

Cash credit is a facility to withdraw money from a current bank account without having credit balance but limited to the extent of borrowing limit which is fixed by the commercial bank. The interest on this facility is charged on the running balance and not the borrowing limit which is given by bank.

Answered by Anonymous
3

Answer:

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Cash credit is a facility to withdraw money from a current bank account without having credit balance but limited to the extent of borrowing limit which is fixed by the commercial bank. The interest on this facility is charged on the running balance and not the borrowing limit which is given by bank.

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