FOREX

  • US Dollar 1 Buying 106.40 Selling 107.00
  • Great Brt. Pound 1 Buying 129.93 Selling 131.55
  • Euro 1 Buying 116.23 Selling 117.68
  • Australian Dollar 1 Buying 81.27 Selling 82.28
  • Canadian Dollar 1 Buying 80.78 Selling 81.79
  • Japanese Yen 10 Buying 10.18 Selling 10.31
  • Singapore Dollar 1 Buying 76.17 Selling 77.12
  • Swiss Franc 1 Buying 106.46 Selling 107.79
  • Chinese Yuan * 1 Buying 15.51 Selling 15.70
  • Indian Rupees 1 Buying 1.60 Selling 1.60
  • Qatari Riyal 1 Buying 28.67 Selling 29.02
  • Saudi Arabian Riyal 1 Buying 27.84 Selling 28.19
  • Thai Baht 1 Buying 3.04 Selling 3.08
  • Malaysian Ringgit 1 Buying 24.96 Selling 25.27
  • UnitedArabEmirates 1 Buying 28.42 Selling 28.78
  • South Korean Won 100 Buying 9.47 Selling 9.59
  • Danish Kroners 1 Buying 15.48 Selling 15.67
  • Hong Kong Dollars 1 Buying 13.54 Selling 13.71
  • Swedish Kroner 1 Buying 11.91 Selling 12.06
  • Kuwati Dinar 1 Buying 344.56 Selling 348.87
  • Bahrain Dinar 1 Buying 275.66 Selling 279.11

As per Oct 19, 2016 | View All »

Cash Credit

A Cash Credit is essentially a drawing account against credit granted by the Bank and is operated in the same way as in Overdraft Account. Under this Credit, Bank permits its customers to borrow money up to fixed (Approved) limit and allow borrowers to make as many as withdrawals and deposits till the validity of such credit within the approved limit.  Thus the principle advantages of cash credit account to a borrower are that, unlike the customer, borrowing on a fixed loan basis, they may operate the account within the stipulated limit as and when required and can save interest by reducing the debit balance whenever the borrower is in a position to do so.  Cash Credit is allowed against the security of tangible assets like hypothecation of stocks, plant and machinery and its insurance policy with Banker's clause, book debts/receivable and other current assets etc.