Fixed deposits and recurring deposits are:
A. repayable after an agreed period
B. repayable on demand
C. not repayable
D. repayable after death of depositors
Answer: Option B
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The given answer is wrong. That will be repayable after an agreed period because on demand accounts are Saving and current rd and fd both comes under term deposit.
Option A will be correct.Fixed deposit and Reccuring deposits are not payable on demand.Money is deposited in these for a specific period.
Wrong ans Fd Rd are the time liability
And CASA are demand liabilities