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📖 generic · 12th TN - English Medium · COMMERCE · Page 44poem

(iii) Factoring Institutions

Chapter 5: 5. Code of Conduct: · COMMERCE

(iii) Factoring Institutions “Factoring” is an arrangement whereby a financial institution provides financial accommodation on the basis of assignment/ sale of account receivables. The factoring institutions collect the book debts for and on behalf of its clients. Some of the factoring institutions operating in India are SBI Factors and Commercial Services Private Limited, a subsidiary of State Bank of India and Canbank Factors Limited, a subsidiary of Canara Bank.

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