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Inland bill discounting ensures timely payments to the borrower from the bank.

  1. The bank buys the bill of exchange drawn by the borrower before the due date and credits the value immediately, after deducting the agreed amount as discount / commission.
  2. The bill is then presented to the borrower's customer on the due date of the bill and the customer collects the total amount due.
  3. If the bill is delayed, the borrower or his customer pays the Bank a pre-determined interest depending upon the terms of transaction agreed upon with the Bank.

*The Bills drawn are in strict conformity with the terms of the letter of credit. Bills of exchange should have arisen out of a bonafide commercial or trade transaction.

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