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Money And Banking
What are demand deposits?
Demand Deposits also known as Current Account deposits refer to those deposits that provide the depositor the liberty to withdraw money at any point of time. That is, the account holder of the demand deposits can demand these deposits at any point of time as per their discretion and convenience. Such deposits do not offer any rate of interest.
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What is a ‘legal tender’? What is ‘fiat money’?
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