The common forms of credit instruments are: 1. Cheque 2. Bill of Exchange 3. Draft 4. Letter of Credit 5. Hundi 6. Promissory Note. Form # 1. Cheque: A cheque is written order addressed to a banker, signed by the person who has deposited money with the banker to pay an amount of money specified on the order to a [...]
List of nineteen commonly asked questions on cheque truncation with answers. Q. 1. What Is Cheque Truncation? Ans. Truncation is the process of stopping the flow of the physical cheque issued by a drawer to the drawee branch. The physical instrument will be truncated at some point en-route to the drawee branch and an electronic image of the cheque would [...]
List of ten commonly asked question of micro credit with answers. Q. 1. What is Micro Credit? Ans. Micro Credit is defined as provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi-urban and urban areas for enabling them to raise their income levels and improve living standards. Micro Credit [...]