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What do you mean by collateral |
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Answer» Collateral is an asset that the borrower owns(such as land, buliding, etc) and uses this as a gaurantee to a lender until the loan is repaid.....if the borrower falis to pay back the money then the lender has the right to sell the asset or collateral to obtain payment. Collateral is a asset or a property of the borrower offered to lender to secure the loan. According to me it is girwi iin hindi |
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