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Explain the following term/concept.Commercial bills - Secretarial Practice

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Question

Explain the following term/concept.
Commercial bills

Short/Brief Note
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Solution

These are the trade bills accepted by commercial banks. Trade bills are negotiable instruments or bills drawn by a seller on the buyer for the value of goods sold under credit sales. Banks can rediscount the bills any number of times till the maturity of the bill.

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Types of Financial Market
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Chapter 11: Financial Market - Exercises [Page 169]

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Balbharati Secretarial Practice [English] Standard 12 Maharashtra State Board
Chapter 11 Financial Market
Exercises | Q 2.6 | Page 169

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