Money borrowed or lent for a day or overnight
Money borrowed for more than one day but up to 3 days
Money borrowed for more than one day but up to 7 days
Money borrowed for more than one day bur up to 14 days
Answer is Right!
Answer is Wrong!
The correct answer is: A. Money borrowed or lent for a day or overnight.
Call money is a type of short-term loan that is typically used by banks to finance their day-to-day operations. It is a very flexible type of loan, as it can be borrowed or repaid on very short notice. Call money is typically offered at a higher interest rate than other types of loans, as it is considered to be a riskier investment.
Option B is incorrect, as call money is not typically borrowed for more than one day. Option C is incorrect, as call money is not typically borrowed for more than three days. Option D is incorrect, as call money is not typically borrowed for more than seven days.