"But for the banks,there would be no demand deposits and no payments by cheques against these deposits" Explain plz no spam
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the demand deposits share the essential features of money. the facility of cheques against demand deposits make it possible to directly settle payments without the use of cash sales demand deposits are accepted wildly as a mean of payment along with currency they constitute money in the modern economy.
Sivaraghavi6103:
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the demand deposits share the essential features of money. the facility of cheques against demand deposits make it possible to directly settle payments without the use of cash sales demand deposits are accepted wildly as a mean of payment along with currency they constitute money in the modern economy.
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