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Money and Banking — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMoney and Banking1 Mark
Question
What do you mean by overdraft facility?
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Answer

Commercial banks allow a customer to draw cheques for a sum which is greater than the balance lying in their account. This is known as overdraft facility. This facility is given only in current account deposits.

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