GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is Call Money?
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Money borrowed for more than one day but up to 3 days
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Money borrowed for more than one day but up to 7 days
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Money borrowed for more than one day but up to 14 days
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Money borrowed or lent for a day or over night
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Explanation:
Detailed explanation-1: -’Call Money’ is the borrowing or lending of funds for 1day. Where money is borrowed or lend for period between 2 days and 14 days it is known as ‘Notice Money’.
Detailed explanation-2: -Answer: The periods for which the money is borrowed is called Loan periods .
Detailed explanation-3: -Call money is a very short-term bank loan that does not contain regular principal and interest payments. It is often used by brokerage firms to finance margin accounts. Call money does not have to follow a fixed schedule, nor does the lender have to provide any notice of repayment.
There is 1 question to complete.