Question

A short term finance where the money lend for one day called ---.

• A. term loan
• B. promissory note
• C. notice money
• D. call money

Answer 1

Answer:

D. call 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'.