Mention and briefly explain terms of credit, laid down by banks.
Answers
Answered by
3
Answer:
ᴛʜᴇ ᴛᴇʀᴍ ʙᴀɴᴋ ᴄʀᴇᴅɪᴛ ʀᴇꜰᴇʀꜱ ᴛᴏ ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴏꜰ ᴄʀᴇᴅɪᴛ ᴀᴠᴀɪʟᴀʙʟᴇ ᴛᴏ ᴀ ʙᴜꜱɪɴᴇꜱꜱ ᴏʀ ɪɴᴅɪᴠɪᴅᴜᴀʟ ꜰʀᴏᴍ ᴀ ʙᴀɴᴋɪɴɢ ɪɴꜱᴛɪᴛᴜᴛɪᴏɴ ɪɴ ᴛʜᴇ ꜰᴏʀᴍ ᴏꜰ ʟᴏᴀɴꜱ. ʙᴀɴᴋ ᴄʀᴇᴅɪᴛ, ᴛʜᴇʀᴇꜰᴏʀᴇ, ɪꜱ ᴛʜᴇ ᴛᴏᴛᴀʟ ᴀᴍᴏᴜɴᴛ ᴏꜰ ᴍᴏɴᴇy ᴀ ᴩᴇʀꜱᴏɴ ᴏʀ ʙᴜꜱɪɴᴇꜱꜱ ᴄᴀɴ ʙᴏʀʀᴏᴡ ꜰʀᴏᴍ ᴀ ʙᴀɴᴋ ᴏʀ ᴏᴛʜᴇʀ ꜰɪɴᴀɴᴄɪᴀʟ ɪɴꜱᴛɪᴛᴜᴛɪᴏɴ. ᴀ ʙᴏʀʀᴏᴡᴇʀ'ꜱ ʙᴀɴᴋ ᴄʀᴇᴅɪᴛ ᴅᴇᴩᴇɴᴅꜱ ᴏɴ ᴛʜᴇɪʀ ᴀʙɪʟɪᴛy ᴛᴏ ʀᴇᴩᴀy ᴀɴy ʟᴏᴀɴꜱ ᴀɴᴅ ᴛʜᴇ ᴛᴏᴛᴀʟ ᴀᴍᴏᴜɴᴛ ᴏꜰ ᴄʀᴇᴅɪᴛ ᴀᴠᴀɪʟᴀʙʟᴇ ᴛᴏ ʟᴇɴᴅ ʙy ᴛʜᴇ ʙᴀɴᴋɪɴɢ ɪɴꜱᴛɪᴛᴜᴛɪᴏɴ. ᴛyᴩᴇꜱ ᴏꜰ ʙᴀɴᴋ ᴄʀᴇᴅɪᴛ ɪɴᴄʟᴜᴅᴇ ᴄᴀʀ ʟᴏᴀɴꜱ, ᴩᴇʀꜱᴏɴᴀʟ ʟᴏᴀɴꜱ, ᴀɴᴅ ᴍᴏʀᴛɢᴀɢᴇꜱ.
Answered by
1
Answer:
......................
Attachments:
Similar questions