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Question
Bank provides an overdraft facility to ______ account holders.
Options
Current
Saving
Fixed Deposit
MCQ
Fill in the Blanks
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Solution
Bank provides an overdraft facility to current account holders.
Explanation:
Banks mostly offer the overdraft capability to current account holders. This feature enables the account holder to withdraw more money than is available in their account, subject to a specific restriction. It is especially useful for firms to manage their short-term cash flow.
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