Question

Pawan Mohantyhas obtained a recommendation letter from the Panchayat Pradhan. He has seven acres of cultivable land and can produce collateral of Rs. 8 lakhs. He was born on 4th July, 1955. He doesn't have any outstanding loan from the bank.

• A. If the advance is not to be granted
• B. If the case is to be referred to the Genera Manager of the bank;
• C. If the advance is to be granted
• D. If the case is to be referred to the Chairman of the bank

Answer 1

Answer: (A)

If the advance is not to be granted

He is more than 50 years old. Hence advance not granted.