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BANKING AND MONETARY POLICY — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsBANKING AND MONETARY POLICY2 Marks
Question
Write the meaning of Recurring deposits.
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Answer

Recurring deposits are a type of savings where a person deposits a fixed amount of money every month for a specific period. Interest is paid on the accumulated amount at the end of the term.

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