BANKING AFFAIRS

Detailed explanation-1: -Hypothecation charges refer to the additional fee that vehicle owners need to submit at the RTO when acquiring the RC without the bank’s name on it. Thus, after submitting the bank’s NOC, you would need to bear a charge before you can collect the fresh RC.

Detailed explanation-2: -Hypothecation of stock / book-debts credit facility is available as a working capital for development of business against prime security of stock or book debts. Trading / Manufacturing units, Traders, Business community can avail the credit facility.

Detailed explanation-3: -What is hypothecation? Hypothecation generally means a fixed or floating charge on certain types of immovable properties and tangible movable properties, whether existing or future, which is created by a security provider in favour of a lender without actual delivery of possession of the underlying asset to the lender.

Detailed explanation-4: -CC(HYPO) is a continuous credit limit, using to meet the working capital requirement in any gainful Business or Industry Activity.