A nominated bank is:

Q. A nominated bank is:
Answer: The bank that negotiates or accepts documents under the LC
Notes: A nominated bank is authorized by the Issuing Bank to handle documents and make payment to the beneficiary, provided the terms of the LC are met.

Question Source: 📚This question is part of Banking Awareness - 2025-26 course in GKToday's Android Application. The Course comprises 2400+MCQs on Banking & General Financial Awareness with explanation for All Banking Exams of 2025-26 such as IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking Examinations. Download the app here.

📌 Question Number: 19 in Bank Guarantees and Letters of Credit in the above course in App.