Which of the following deposits is not accepted by commercial banks?

Fixed deposit

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Demand Deposit

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Saving Deposit

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Public Account Deposit

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Solution

The correct option is D Public Account Deposit
Public Account of India means those transactions where the government is merely acting as a banker.

Examples of those are provident funds, small savings and so on. These funds do not belong to the government. They have to be paid back at some time to their rightful owners.

The commercial banks do not transact in this account.

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Similar questions

Commercial banks accept deposits from the public in the form of:

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