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Mr. Verma is a businessman and has a current account in bank ABC. He is facing hardship in business because of COVID-19 restrictions and wants to ensure that bank won't have a cheque dishonored against insufficient balance, which would reflect his poor ability to pay. Which loan facility should he choose as a quick solution if he doesn't want to open a new loan account? a) Current account b) Overdraft c) Short-term loan d) Cash credit |
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Answer» Correct answer is b) Overdraft |
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