Bank money refers to the demand deposits created by the _____.
Fill in the blanks:
Bank money refers to the demand deposits created by the _____.
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Bank money refers to the demand deposits created by the Commercial Banks.
Explanation:-
Demand deposits refer to deposits created by commercial banks. These are the deposits from where the money can be withdrawn on demand.
The bank issues the cheques to the depositors. These cheques can be used to withdraw money and to make payments against any obligation.
these cheques are called bank money and can be used to withdraw at any time on demand.
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