CASH CREDIT LIMIT AND DRAWING POWER UTILISATION
This query is : Resolved
CMA Shilpa Shinde
(Querist)
15 July 2011
KINDLY PROVIDE DETAIL POINT WISE INFORMATION ON :-
1) CASH CREDIT LIMIT SANCTION AND DRAWING POWER IS FOR WHAT DURATION?
2) IS THE CC LIMIT IS GIVEN PER DAY BASIS, I.E., AMOUNT OF DRAWING POWER CAN BE USED ON FOR THE SINGLE DAY OR FOR THE MONTH.
3) HOW WORKING CAPITAL TERM LOAN IS DIFFERENT FROM CASH CREDIT IN USAGE SENSE.
4) IS THE CHEQUE BOOK IS ISSUED BY BANK IN CASE OF WORKING CAPITAL TERM LOAN A/C.
1) CASH CREDIT LIMIT SANCTION AND DRAWING POWER IS FOR WHAT DURATION?
2) IS THE CC LIMIT IS GIVEN PER DAY BASIS, I.E., AMOUNT OF DRAWING POWER CAN BE USED ON FOR THE SINGLE DAY OR FOR THE MONTH.
3) HOW WORKING CAPITAL TERM LOAN IS DIFFERENT FROM CASH CREDIT IN USAGE SENSE.
4) IS THE CHEQUE BOOK IS ISSUED BY BANK IN CASE OF WORKING CAPITAL TERM LOAN A/C.
CMA Ramesh Krishnan
(Expert)
15 July 2011
Once the CC limit fixed that is perpetual basis, based on your operating that account
it is not day or monthly basis., the limit fixed by amount basis
W.C term loan is different from CC
W.C term loan account will not contain cheque books
it is not day or monthly basis., the limit fixed by amount basis
W.C term loan is different from CC
W.C term loan account will not contain cheque books
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