Why collateral are necessary?? explain.
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collateral is necessary as to insure if any person refuse to repay the loan then bank should not in the loss by the help of collateral it can get its money back
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collateral is an asset that the borewell own and use this as a guarantee to the lander until loan is repate
essential because if borrow fail to repair a loan under as write to sell to asset on the collateral to obtain the payment
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