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BANKING AND MONETARY POLICY — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsBANKING AND MONETARY POLICY2 Marks
Question
What is recurring deposit?
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Answer

A recurring deposit is a type of account where an individual saves a fixed amount of money every month for a pre-determined period. The interest rate is higher than a savings account but lower than a fixed deposit.

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