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Thursday, July 29, 2010

Savings Deposit Account

Savings bank deposit accounts are intended for individual savers who want to save for meeting the future social, economic, educational or religious needs. Generally these deposits are of comparatively smaller amounts and are accepted by the banks to encourage persons of small means to make savings.
It is observed that the Central Bank currently treats only 9% of Savings deposit as demand liabilities and rest 91% is treated as time liabilities.

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