explain the meaning of public deposit
Answers
Answer:
Public deposits refer to the unsecured deposits invited by companies from the public mainly to finance working capital needs. A company wishing to invite public deposits makes an advertisement in the newspapers. ... Any member of the public can fill up the prescribed form and deposit the money with the company.
Explanation:
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Explanation:
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Public deposits are raised by business organisations directly from the public. These deposits usually offer a high rate of interest. This source fulfils the medium as well as short-term finance requirements of the business. Merits: ... Public deposits do not usually create any charge on the assets of the company
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