Question

justify the statement the bank exchange two types of deposits from public that is demand and time deposit​

Answer 1

Answer:

what to justify here in this question

Answer 2

Explanation:

1) Accepting deposits from the public is the basic and primary functions of commercial bank.

2) The banks pays interest on deposits to the investor/depositors

3) There are 2 types of deposits :

1. Demand Deposits:- The deposits which are repayable on demand are called demand deposits
2. Time deposits:- The deposits which are not repayable on demand and works according to it's time limits are called as time deposits.

4) By accepting deposits banks promote saving habits among the people.