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At&t inc (t.n) is in advanced discussions to acquire media conglomerate time warner inc (twx.n), and a deal could come as early as this weekend, the wall street journal reported on friday.The facility of using a credit card to withdraw cash from an atm or automatic teller machine called the cash advance facility.Password should be 8 or more characters, atleast 1 number, 1 symbol (except #) & 1 upper case letter.Home pre-market advice technicals f&o results ipo all stats global markets currencies bonds tools terminal.
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Cash credit theory based on “pay on demand”. cash credit arrangement is one type of short term loan or finance or advance raised by bank or financial institute to business organization. cash credit facilities fulfill the requirement of working capital which is needed to run daily operation in a business concern. it is similar to loan but different from conventional loan. in this system, bank or financial institute maintain a cash credit account for their borrower. cash credit makes a provision for credit by transferring the sanctioned amount into cash credit account from which borrower can withdraw as per their requirement. borrower can withdraw money within sanctioned “limit” & “daily limit”. cash credit account almost similar to current account but it’s not current account. in cash credit system, interest charged on amount actually withdrawn in daily basic. borrower can’t withdraw total sanctioned amount of loan at a time.Bank or cash credit provider holds stock or book debt (as security) against advance sanctioned. the security or guarantee remains accessible by advance provider (normally bank) until cash credit repaid in full. depending on the security holds, cash credit facility is two types i.e. pledge (where bank or financial institute holds physical control of stock & book debt.) & hypothecation (borrower holds total control of stock and submits periodical statement of stock to the lender). cash credit-hypothecation system is broadly used.There are many ways to raise finance; cash credit is one of the many ways of raising finance. cash credit makes a provision by lender (mainly bank or financial institute) for loan (also called advance, finance, credit etc) by depositing the sanctioned amount of the loan into new account from which borrower (business organization) can withdraw as per requirement within permissible amount fixed by lender for specific time or period.Example: - say, abc ltd needs ` 1,15,000 for payment to supplier of raw materials. bank permits `1,00,000 per day as cash credit limit for this period. in this situation abc ltd can withdraw only `1,00,000. interest also calculated on ` 1,00,000 on daily basic, not on ` 1,15,000.
A service provided by many credit card issuers allowing cardholders to withdraw a certain amount of cash, either through an ATM or directly from a bank or other financial agency. Cash advances typically carry a high interest rate - even higher than credit card itself - and the interest begins to accrue immediately.
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A financial institution that allows the borrower to obtain a business or personal loan where the borrower has the flexibility to decide how often they want to withdraw from the loan and at what time intervals. A revolving loan facility allows a company to drawdown, repay and re-draw loans advanced to it.
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