What are demand deposits?? Explain it's 3 features.......
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demand deposit is that. when person deposit some money on the bank he gets interest on it .and the give loan to the people who needs the loan and take interest from the person and then give that interest to the person who deposit money on the bank
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1.demand deposits act as a medium of exchange like money.they constitute money in the modern economy.
2.they are widely accepted as a means of payment by way of cheque instead of cash.
3.such deposits earn an amount as interest.
2.they are widely accepted as a means of payment by way of cheque instead of cash.
3.such deposits earn an amount as interest.
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