Economy, asked by check96, 3 months ago

What is the advantage of using the facility of cheques against demand deposits?

Answers

Answered by Anonymous

3

A) The facility of cheques against demand deposits makes it possible to directly settle payment without the use of cash. Bank plays a very vital role as there would be no demand deposits and no payment by cheques against the demand deposit in absence of banking system

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Answered by aalminsiddiqui

36

ᴀ) ᴛʜᴇ ғᴀᴄɪʟɪᴛʏ ᴏғ ᴄʜᴇǫᴜᴇs ᴀɢᴀɪɴsᴛ ᴅᴇᴍᴀɴᴅ ᴅᴇᴘᴏsɪᴛs ᴍᴀᴋᴇs ɪᴛ ᴘᴏssɪʙʟᴇ ᴛᴏ ᴅɪʀᴇᴄᴛʟʏ sᴇᴛᴛʟᴇ ᴘᴀʏᴍᴇɴᴛ ᴡɪᴛʜᴏᴜᴛ ᴛʜᴇ ᴜsᴇ ᴏғ ᴄᴀsʜ. ʙᴀɴᴋ ᴘʟᴀʏs ᴀ ᴠᴇʀʏ ᴠɪᴛᴀʟ ʀᴏʟᴇ ᴀs ᴛʜᴇʀᴇ ᴡᴏᴜʟᴅ ʙᴇ ɴᴏ ᴅᴇᴍᴀɴᴅ ᴅᴇᴘᴏsɪᴛs ᴀɴᴅ ɴᴏ ᴘᴀʏᴍᴇɴᴛ ʙʏ ᴄʜᴇǫᴜᴇs ᴀɢᴀɪɴsᴛ ᴛʜᴇ ᴅᴇᴍᴀɴᴅ ᴅᴇᴘᴏsɪᴛ ɪɴ ᴀʙsᴇɴᴄᴇ ᴏғ ʙᴀɴᴋɪɴɢ sʏsᴛᴇᴍ

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