Short-term loans are required for purchasing machinery, constructing fences and digging wells. Such loans are generally stretched over a period of 12 months to 3 years.

True

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False

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Solution

The correct option is B
False

False. Medium-term loans are required for purchasing machinery, constructing fences and digging wells. Such loans are generally stretched over a period of 12 months to 5 years.

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Similar questions

Rural population needs short-term loans for:

Which among the following statement(s) is /are correct about Ways And Means Advances (WMA) and Overdraft:-

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