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What are short term loans?

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Question

What are short term loans?

Short Answer
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Solution

Short-term loans are a type of credit facility provided by commercial banks or financial organisations. They are borrowed and must be fully repaid within a short period of time, often a few weeks to a year.

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Chapter 7: Commercial Banks - Exercise [Page 173]

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Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 7 Commercial Banks
Exercise | Q 10. | Page 173
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