Question

Mr Aman mehra Businessman has current account in Punjab National Bank PNB. his current account shows balance of just rupees 40000 while he urgently need rupees 250000 to pay off one of his creditor. he approaches PNB to allow him to withdraw rupees 250000, using the facility extended by the bank to him due to his credit worthiness. bank agrees to it. identify and state the facility which has been provided by PNB to raman. ​

Answer 1

Answer:

overdraft facility

Explanation:

An overdraft facility is a credit agreement made with a bank that allows an account holder to use or withdraw more money than what they have in their account up to the approved limit. ... The sanctioned overdraft limit and the interest charged will vary based on the nature of the asset offered as collateral

Please mark it is a brainliest answer

Answer 2

Answer:

overdraft facility

because he had to

pay to his creditors so

he took loan from bank.