Demand Deposits

Suresh Prasad (www.aubsp.com) (15575 Points)

05 January 2011  

Demand Deposits

 

Banks are the only financial intermediaries that are allowed to accept demand deposits. Demand deposits can be withdrawn by the customer at any time as per his/her requirements. Since demand deposits are repayable on demand, they are known so.

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Source : https://www.tax4india.com/finance-and-economy-india/banking/demand-deposits.html