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BANK Occ Reg

karthikrao (B.com CS(inter) -ongoing) (170 Points)

25 May 2021

Sir, What is difference between Bank balance and Available credit balance in Bank site...What is meant by SME In bank system...

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CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 25 May 2021

Available credit is related to the account balance of a credit card or other form of debt. Available credit refers to how much a borrower has left to spend; this amount can be calculated by subtracting the borrower's purchases (and the interest on those purchases) from the total credit limit on the account.

Whereas bank balance is the balance in your bank account