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Why are demand deposits considered as …

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Why are demand deposits considered as money??

Posted by Disha Agarwal 5 years, 4 months ago

CBSE > Class 10 > Social Science

1 answers

Meghna Thapar 5 years, 4 months ago

Due to following reasons, the demand deposits are considered as money
(i) Demand deposits can be withdrawn from the bank whenever it is required.
(ii) They are widely accepted as a means of payment, along with the currency, thus they are considered as money.
(iii) They are accepted widely as means of payment by way of a cheque instead of cash.

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