Banking System and Capital Market Questions and Answers for Competitive Exams

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the-permission-given-to-a-bank-customer-to-draw-cheques-in-excess-of-his-current-account-balance-is-called

The permission given to a bank customer to draw cheques in excess of his current account balance is called

A A personal loan

B An ordinary loan

C Discounting a bill of exchange

D An overdraft

Answer & Explanation
Answer: Option [D]