SOLVED: Which of the following statements is incorrect in relation to bill discountin ...

Which of the following statements is incorrect in relation to bill discounting?

In bill discounting, the bank purchases the bill before it is due and credits the amount to the client’s account after deducting a charge called the discount charge

The discount charge basically represents the interest on the amount given to the client from the date of purchase of the bill till the due date.

Bill discounting may be done by the bank only on without recourse basis

None of the choices choices

Verified Answer

Correct Option - c

To get all Infosys Certified Banking (Level 1) Associate Exam questions Join Group https://bit.ly/infy_premium_group

We're passionate about offering best placement materials and courses!! A one stop place for Placement Materials. We daily post Offcampus updates and Placement Materials.

Important Links

Privacy Policy

Refund Policy

Terms & Conditions

About Us

Contact Us