2023-24 Loan Policy Quiz
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Questions and Answers

How does the bank determine the size of the loan and the applicable rate of interest?

  • By considering the credit score of the borrower
  • By assessing the borrower's annual income
  • By evaluating the borrower's investment portfolio
  • By clubbing the term loans and working capital finance together (correct)

    • What must the bank adhere to in case of any amendment in the Interest Rate Policy or new norms/guidelines?

  • Seeking approval from the borrower
  • Informing the media about the changes
  • Adhering to the amendment or new norms/guidelines (correct)
  • Consulting with external financial advisors

    • Who will be included in the definition of Corporate Borrowers?

  • Sole proprietors
  • Individuals with personal loans
  • Small family-owned businesses
  • Limited Liability Partnership (LLP) (correct)

    • What does the Bank charge interest on?

    <p>Loans, advances, cash credits, overdrafts, and discount usance bills</p> Signup and view all the answers

    How does the Bank charge interest?

    <p>At specified rates with periodic rests as defined under the Interest Rate Policy</p> Signup and view all the answers

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