Question

State the importaint features of demand deposits?​

Answer 1

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Those deposits in the bank accounts that can be withdrawn on demand, are called demand deposits. (i) Demand deposits are accepted widely as a means of payment by way of a cheque along with currency. (ii) They are closely linked to the working of the modern banking system. Such deposits earn an amount as interest.

Answer 2

Answer:

Those deposits in the bank accounts that can be withdrawn on demand, are called demand deposits. (i) Demand deposits are accepted widely as a means of payment by way of a cheque along with currency. (ii) They are closely linked to the working of the modern banking system. Such deposits earn an amount as interest.