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In bank guarantees, the bank makes payments on ---

Athe beneficiary has incurred loss

Bbeing sued by the beneficiary

Cmerely on demand by

DNone of the above

Answer:

C. merely on demand by

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Below given statements are related to the history of German Co-operatives. Identify the wrong statement.

Consider the statements related to KRIBHCO and IFFCO.

  1. Both are multi-state Co-operative societies.
  2. Major products of both the societies are fertilisers
  3. Both have Co-operative societies as its members.
  4. Both have production plants at Gujarat and Uttar Pradesh
    Under 1904 Act minimum number of persons required to form a co-operative society