What are Demand Liabilities and Time Liabilities?

There are mainly two types of liabilities on any bank:
Demand Liabilities: The liabilities which bank have to pay on demand. 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 come under Demand Liabilities.
Time Liabilities: The liabilities which bank have to pay after specific time period. 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 come under Time Liabilities.

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