Social Sciences, asked by anandadeva2253, 1 year ago

What is the meaning of 'payments by cheques against deposits'?

Answers

Answered by gammingnow007

it means that if you make a payment by cheque whose money goes from your deposit wich is actually against deposits as deposits are made to save money instead of spending it. if you spend any thing from your deposit it is against your deposit.

please mark as the BRAINLIEST!!

gammingnow007: please mark as the brainliest

Answered by lakshaysoni01279473

Answer:

The facility of cheques against demand deposits makes it possible to directly settle payment without the use of cash.

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