Question
A ______ is a document from a bank guaranteeing that a
seller will receive payment in full as long as certain delivery conditions have been met.Solution
Letter of Credit is a written undertaking given by a bank (issuing bank) to the seller or exporter (beneficiary) on the instruction of the buyer or importer (applicant) to pay at sight or at a determinable future date up to a stated amount of money subject to the beneficiary’s satisfactory compliance of presentation of documents. It is also known as a documentary credit.
Rourkela, also known as ‘Ispat Nagar’, is located in which Indian state?
Which cricketer won the ICC Men’s Test Cricketer of the Year award in 2025?
The U.S. administration imposed what tariff rate on solar cell imports from India?Â
Which state government has introduced the first AI-based smart fence project, named ‘Ele-fence’, to reduce human-wildlife conflict?
What initiative did Dr. Jitendra Singh launch to empower grassroots governance?
What is the indigenous content percentage of the Indian Navy’s new survey vessel INS Ikshak?Â
- Which bank launched the ‘SME Growth Booster’ initiative to provide collateral-free loans to small businesses?
HSBC Private Bank appointed Ida Liu as Chief Executive Officer with effect from which date?Â
Which award was conferred on ISRO Chairman Dr. V. Narayanan for his contributions to space science in 2025?Â
Which Indian state launched the 'Digi-Lakshmi' scheme to empower urban poor women?
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