Economics · Banking Laws and Securities
Which of the following statements is/are INCORRECT regarding the modes of charging securities? 1. Fixed charge gives the bank exclusive control over a specific asset. 2. Floating charge allows the borrower to deal with assets in the ordinary course of business. 3. Hypothecation transfers ownership of assets to the bank. 4. Pledge involves delivery of goods to the bank for securing debt.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statements 1 and 3
- 2Only statement 4
- 3Only statement 1
- 4Only statement 3✓
Correct answer
Only statement 3
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