Question

how do Indian Bank control the loan?

Answer 1

$hey \: mate$

HERE IS YOUR ANSWER

⚫BANKS ARE THE PLACE FROM WHERE WE CAN DEPOSIT OR WITHDRAW OUR MONEY.

⚫NOW,BANK PROVIDES LOAN TO THE NEEDY.IT GIVES THE REQUIRED SUM OF MONEY,BUT CHARGE INTEREST ON IT.

⚫FOR LOAN TO BE SANCTIONED,THERE ARE SOME TERMS,WHICH ARE COMMONLY KNOWN AS "TERMS OF CREDIT" including ➡

Collateral

Documentation

Mode of Repayment

After given conditions are done,banks provide loan to borrower.

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