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Question
What is CC and OD in banking?
What is CC and OD in banking?
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Solution
CC and OD are two different forms of credit that are offered by banks to their customers. CC stands for cash credit, it is a form of short term loans that are offered by banks to businesses or self employed individuals for managing their working capital requirements.
OD stands for Overdraft facility, it is a kind of facility where the businesses or individuals can withdraw an amount of money over and above their bank balance.
Also read:
- Difference Between Cash Credit and Overdraft
- Difference Between Shares and Debentures
- What Are Equity Shares
- Forfeiture of Shares
- Issue of Shares
Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.
CC and OD are two different forms of credit that are offered by banks to their customers. CC stands for cash credit, it is a form of short term loans that are offered by banks to businesses or self employed individuals for managing their working capital requirements.
OD stands for Overdraft facility, it is a kind of facility where the businesses or individuals can withdraw an amount of money over and above their bank balance.
Also read:
- Difference Between Cash Credit and Overdraft
- Difference Between Shares and Debentures
- What Are Equity Shares
- Forfeiture of Shares
- Issue of Shares
Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.
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