Demand deposits play a crucial role in the banking system, serving as a cornerstone of the modern financial infrastructure. These types of deposits provide account holders with easy access to their funds, allowing for day-to-day transactions, bill payments, and withdrawals with ease. In addition to offering convenience for consumers, demand…
-
-
Why Are Demand Deposits Considered as Money?
Why Are Demand Deposits Considered as Money? When we think of money, we often picture coins and banknotes. However, in today’s modern economy, money has taken on a more abstract form. One of the most important types of money in our financial system is demand deposits. In this article, we…
