Question

A daily deposit scheme introduced to help daily wages earners, small traders, to promote saving habit and by way of funding their capital requirements

• A. Recurring Deposits
• B. Pigmy Deposits
• C. Fixed Deposits
• D. Demand Deposits

Answer 1

Answer:

B. Pigmy Deposits

Pigmy Deposits:

• It is a daily deposit scheme introduced to help daily wages earners, small traders, to promote saving habit and by way of funding their capital requirements 

• As per this schemes money can be deposited on  daily basis

• Pigmy Deposit is introduced Syndicate Bank