Question

Explain with examples, how people are involved with the banks.(Delhi - 2014)

Answer 1

Explanation:

They provided facilities for easy withdrawal at any point of time that has been deposited with the bank. These deposits which provide such facilities of withdrawal on demand are known as demand deposits.

Answer 2

☘️ Answer:

1. Banks help people to save their money and keep their money in safe custody of the bank. Banks accept deposits from the public and also help people to earn interest on their deposits.
2. People can withdraw the money deposited with the bank at the time of their need. As the money can be withdrawn on demand, these are called demand deposits.
3. Banks also grant loans to people for a variety of purposes. In times of need individuals, business houses and industries can borrow money from the banks.