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Guest

Guest (Querist)

05 October 2013 What is meaning of demand and time liabilities in chapter of financial statement of banking companies.

Sanket

Sanket (Expert)
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05 October 2013 'Demand Liabilities' include all
liabilities which are payable on
demand and they include current
deposits, demand liabilities portion
of savings bank deposits, margins
held against letters of credit/
guarantees, balances in overdue
fixed deposits, cash certificates and
cumulative/recurring deposits,
outstanding Telegraphic Transfers
(TTs), Mail Transfer (MTs), Demand
Drafts (DDs), unclaimed deposits,
credit balances in the Cash Credit
account and deposits held as security
for advances which are payable on
demand. Money at Call and Short
Notice from outside the Banking
System should be shown against
liability to others.

Sanket

Sanket (Expert)
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05 October 2013 Time Liabilities are those which are
payable otherwise than on demand
and they include fixed deposits, cash
certificates, cumulative and
recurring deposits, time liabilities
portion of savings bank deposits,
staff security deposits, margin held
against letters of credit if not payable
on demand, deposits held as
securities for advances which are not
payable on demand and Gold
Deposits.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 October 2013 Demand Liabilities : ‘Demand Liabilities’ include all liabilities which are payable on demand and they include current deposits, demand liabilities portion of savings bank deposits, margins held against letters of credit/ guarantees, balances in overdue fixed deposits, cash certificates and cumulative/ recurring deposits, outstanding Telegraphic Transfers (TTs), Mail Transfer (MTs), Demand Drafts (DDs), unclaimed deposits, credit balances in the Cash Credit account and deposits held as security for advances which are payable on demand.

Time Liabilities: Time Liabilities are those which are payable otherwise than on demand and they include fixed deposits, cash certificates, cumulative and recurring deposits, time liabilities portion of savings bank deposits, staff security deposits, margin held against letters of credit if not payable on demand, deposits held as securities for advances which are not payable on demand, India Millennium Deposits and Gold Deposits.