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Identify and explain the concept from the given illustration: Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year. - Economics

Short Note

Identify and explain the concept from the given illustration:

Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.

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Solution

Concept: Fixed deposit

Explanation:

  1. Fixed deposits refer to a lumpsum amount deposited by a customer for a specified period of time.
  2. Hence, this illustration relates to the concept of ‘fixed deposit’ as Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.
Concept: Structure of Money Market in India - Organized Sector
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 9 Money Market and Capital Market in India
Exercise | Q 5. (3) | Page 92
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