____ deposits can be withdrawn from the banks as and when needed by writing a cheque anytime.
____ deposits can be withdrawn from the banks as and when needed by writing a cheque anytime.
(a) Demand
(b) Time
(c) Both (a) and (b)
(d) None of these
Anurag Pathak Changed status to publish January 3, 2024
Ans – (a)
Explanation:-
Demand deposits can be withdrawn from the banks as and when needed by writing a cheque anytime.
For example, Savings and current accounts are the demand deposits with commercial banks.
The commercial banks issue a leaf of cheques. The account holder can withdraw cash from it by writing a cheque
Anurag Pathak Changed status to publish January 3, 2024
