Question

A short term finance, where money is lend for a period exceeding one day called ---.

• A. Call Money
• B. Notice Money
• C. Term Loan
• D. Demand Deposit

Answer 1

Answer:

B. Notice Money

Money at Call & Short Notice:

• It is a short term finance repayable on demand with a maturity period of 1 to 14 days or overnight to fortnight. 

• Interbank arrangements 

• The money lend for one day called call money. 

• Money lend for a period exceeding one day called 'Notice Money'.