Definition of Consortium- When banks allow credit to more than one party in coordination with others

Q.  When more than one banks allow credit facilities to one party in cordination with each other, the process is called as _________
- Published on 20 Jul 15

a. Amortization
b. Consortium
c. Moratorium
d. Subvention

ANSWER: Consortium
 
A consortium is an association of two or more individuals, companies, organizations or governments with the objective of participating in a common activity or pooling their resources for achieving a common goal.

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