Overdraft is a credit facility granted by commercial bank to _________ holders.

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RRB Paper · Accepted Answer

Overdraft is a credit facility granted by a commercial bank to Current a/c holders. An overdraft is a type of credit facility provided by a bank to its current account holders, which allows them to withdraw more money than they have in their account, up to a pre-determined limit. It is a flexible form of credit that can help individuals and businesses manage their cash flow and cover short-term expenses. Overdrafts are typically subject to interest charges and other fees, and the borrower must repay the amount borrowed within a specified period.

Overdraft is a credit facility granted by commercial bank to _________ holders.

Current a/c

Cash a/c

Capital a/c

Reserve Fund

The correct answer is `No. 1: Current a/c`

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Overdraft is a credit facility granted by commercial bank to _________ holders.

Current a/c

Cash a/c

Capital a/c

Reserve Fund

The correct answer is No. 1: Current a/c

The correct answer is `No. 1: Current a/c`