Nil bal.in c.c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2012
Is there required to make nil balance every year in cash credit account? why
Hari Beldona
(Expert)
15 December 2012
Cash Credit is nothing but working capital financed by the Bank normally against hypothication of stock in trade and receivables. CC is a short time credit say for 1 year which is to be renewed before from the date of sanction. This is to be followed carried every year.
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