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cash credit

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(Querist)
24 May 2010 can anyone say me what is cash credit in simple words?
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daya shankar singh

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daya shankar singh (Expert)
24 May 2010 Cash credit means the excess amount which is borrowed by the borrower over and above the amount deposited with the bank. This type credit provided by the bank on the basis worthiness of the customer.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
25 May 2010 Cash credit limit is excess limit of fund against your bank balance which you can use against hythophcation of your stock and book debts .
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
25 May 2010 It is an overdraft account secured by assets, mostly current assets. It is to be classified as secured loans, in accounting.
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Vikas Gupta

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Vikas Gupta (Querist)
26 May 2010 Thanks

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