Extra Education
← All Indian Economy questions
1

Which of the following best defines the term 'Letter of Credit' as used frequently in bank transactions? [SBI PO 1991]

Correct Answer: Letter by a bank to a person stating the terms and conditions of the loan sanctioned to him by the bank

Make the most of this question

This page focuses on one Indian Economy question from Faculty. After checking the answer, return to the topic list to practice more or run a timed set.

← More Indian Economy MCQsAll Faculty topicsMock test hub
Indian Economy MCQ: Which of the following best defines the term 'Letter of Credit' as used frequently in bank transactions? [SBI PO 1991] | Extra Education