Miss “S” approached a bank nearby to avail loan for her own business, as well as a Self-help group which is operating in her village, the bank rejected her loan application whereas the Self-help group accepted to support her by providing the loan.

Which one of the following documents is required by the bank, but not required by the self-help group to approve Miss "S's" loan application for her business?

a. Application for loans

b. Arrangement Letter

c. Document on Collateral

d. Demand promissory note and take delivery letter


Answer by Student

The correct option is (c):  Document on Collateral.

Detailed Explanation by Teachoo

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.