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Discussion :: IBPS BANK EXAM TEST 8

  1. Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfillment of its terms and conditions. What is this arrangement known in banking context ?
    2. A.

    Line of Credit
    B.

    Loan to Client
    C.

    Loan on Credit
    D.

    Loan against Credit
    E.

    Letter of Credit

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    Workspace

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    Answer : Option E

    Explanation :

    Letter of Credit

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