GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1 year
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2 year
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3 year
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4 year
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Detailed explanation-1: -v The repayment period may be fixed by banks as per the anticipated harvesting and marketing period for the crops for which the loan has been granted. v Card should be normally valid for 5 years subject to annual review.
Detailed explanation-2: -The term loan component will be normally repayable within a period of 5 years depending on the type of activity / investment as per the existing guidelines applicable for investment credit. Financing banks at their discretion may provide longer repayment period for term loan depending on the type of investment.
Detailed explanation-3: -12.2 Security requirement may be as under : Hypothecation of crops: For KCC limit upto ₹ 1.00 lakh banks are to waive margin/security requirements. With tie-up for recovery: Banks may consider sanctioning loans on hypothecation of crops up to card limit of ₹ 3.00 lakh without insisting on collateral security.