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This question belongs to Banking Awareness Banking Awareness Miscellaneous

Banking Awareness miscellaneous

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M/s XYZ company has got an order to supply Machinery to M/s ABC Co of Nigeria. Who has to get a Letter of Credit issued from a Bank?

A) M/s ABC since they are the importers B) M/s XYZ since they are the exporters C) Both since they are the parties to the agreement D) RBI since they regulate the Foreign Trade in India

Answer & Solution

Correct Answer: Option A

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Question posted by Examveda

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