Which of the following statements are not correct in relation to pre-shipment credit in foreign currency'?
Statement I : It is a foreign currency loan available, both, to the importers and exporters.
Statement II : It is self liquidating in nature and can be liquidated by purchasing/discounting of bills.
Statement III : Refinance from RBI is available to banks against pre-shipment credit in foreign currency.
Statement IV : The interest rare shall not exceed 1.75% above six months, LIBOR for the initial period of one month.
| A. | Statements I, II and III are not correct. |
| B. | Statements I, III and IV are not correct. |
| C. | Statement II and IV are not correct. |
| D. | Statement II and III are not correct. |
Answer : B Explanation : |
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Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. |
