Question : Which of the following is not a type of credit facility provided by banks?
Option 1: Overdraft facility
Option 2: Term loan facility
Option 3: Lease facility
Option 4: Cash credit facility
Answer (1)
23rd Jan, 2024
Correct Answer: Lease facility
Solution : The correct answer is (c) Lease facility
Lease facility is not typically considered a type of credit facility provided by banks. A lease is a financial arrangement where one party (lessor) allows another party (lessee) to use an asset in exchange for periodic lease payments. It is more commonly associated with leasing companies or specialized leasing institutions rather than traditional banks.
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