Initial deposits made by people are termed as:
Initial deposits made by people are termed as:
(a) Secondary Deposits
(b) Primary Deposits
(c) Either (a) or (b)
(d) Neither (a) nor (b)
Anurag Pathak Changed status to publish January 4, 2024
Ans – (b)
Initial deposits made by people are termed as Primary Deposits.
Explanation:-
Initial deposits are the money in cash deposited by the general public in commercial banks in different types of accounts. It is also called Primary deposits.
Primary Deposits:- Primary deposits are the cash deposits of people with Commercial Banks in different deposit accounts such as saving accounts, current accounts, term deposit accounts, and other deposits.
Anurag Pathak Changed status to publish January 4, 2024
