How does recurring deposit work?

The banks offer a Recurring Deposit which is a different kind of Term Deposit in our country. It helps to those people who have regular income for depositing a fixed amount of rupees each month in their recurring deposit and receive interest which is applicable for Fixed Deposits. Recurring Deposits is same as making Fixed…

What are the functions of money in the modern economy?

Money – Money plays an important role in modern economies. In the initial stage of civilization, there was no common medium of exchange. Every family produced all the goods required by its member. With the passage of human wants increased and a family could not produce all the things required by it. This led to…