The Bank accepts two types of deposits from the public i.e. Demand and Time Deposits.
Justify the following statement:
The Bank accepts two types of deposits from the public i.e. Demand and Time Deposits.
8 views
1 Answers
- The basic aim of the bank is to pool the excess money to the bank and develop the habit of saving amount people.
- Bank accepts deposits in two forms i.e. Demand Deposits and Time deposits.
- Demand Deposits include – Current Deposits and Savings Deposits.
- Time Deposits includes – Fixed Deposits and Recurring Deposits
- Thus, the Bank accepts two types of deposits from the public i.e. Demand and Time Deposits.
8 views
Answered