New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    What is Lien

    Concept?
    A A legal right Correct Answer Incorrect Answer
    B Financial liability Correct Answer Incorrect Answer
    C Related to Loan Correct Answer Incorrect Answer
    D A mandatory right Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    A lien is a legal right to claim a security interest in a property provided by the owner of the property to the creditor. It is generally used as a guarantee for some sort of legal obligation such as loan repayment.

    Practice Next

    Relevant for Exams: