Question

Which type of deposits with the banks are called demand deposits? State some important features of demand deposits?​

Answer 1

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Those deposits in the bank accounts that can be withdrawn on demand, are called demand deposits.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

Explanation:

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Answer 2

Answer:

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Explanation:

Those deposits in the bank accounts that can be withdrawn on demand, are called demand deposits.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

or

Answer: the features of demand deposit

Explanation: 1.people have the provision to withdraw the money as and when they require.

2.Interest is paid by the bank on these deposits

3.Banks allow the owner of demand deposits to make out a cheque for a specific amount