Question : -------------------- is set-up to grant loans for specific purposes say loan to pursue higher studies.
Option 1: Loan fund
Option 2: Annuity Fund
Option 3: Endowment fund
Option 4: None of the above
Answer (1)
24th Jan, 2024
Correct Answer: Loan fund
Solution :
A Loan Fund is set up to grant loans for specific purposes, say loans to pursue higher studies. It is a financial resource set aside for lending purposes by an organization or institution, typically with explicit criteria for borrowers and designated purposes for loans.
Hence, the correct option is 1.
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