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Deposits accepted by the Commercial Banks:
Current Deposits
Saving Deposits
Time Deposits
All of these
- Current Deposits: These are demand deposits in which money deposited can be withdrawn at any time without any notice. They are generally non-interest bearing.
- Saving Deposits: Designed for individuals who want to save a portion of their income and earn interest. These accounts usually have restrictions on withdrawals.
- Time Deposits: Also known as fixed deposits, money is deposited for a fixed term, and it accumulates interest over time. Withdrawals before maturity might incur a penalty.
- All of These: Commercial banks accept all the above deposits, serving various client needs.
Answer: All of these
By: santosh ProfileResourcesReport error
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