Question

Which type deposites with the banks are called demand deposites ? State some important featuresof demand deposit ?

Answer 1

nice question

Those deposits in the bank accounts that can be withdrawn on demand, are called demand deposits.
Some importantfeatures of demand deposits are
(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.

thanks

Answer 2

Answer:

✨Demand deposits:

'Demand deposits, or non confidential money are funds held in demand accounts in commercial banks. These account balances are usually considered money and form the greater part of the narrowly defined money supply of a country. Simply put, these would be funds like those held in a checking account.