GRANTING OF ADVANCES

 Granting of Advances

• Advances constitute a major source of lending by commercial banks. The type of advances granted by commercial banks take various forms such as cash credit, overdrafts, purchase/ discounting of bills, term loans, etc.
•  Apart from granting traditional facilities, banks also provide facilities like issuance of commercial papers, ECB (External Commercial Borrowing) on behalf of bank/ borrower, securitization of credit sales, housing loans, educational loans, and car loans, etc. 
• An external ECB is an instrument used in India to facilitate the access to foreign money by Indian corporations and public sector undertakings.

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