Demand is bound to pay to its bearer, the reason for writing this on the money
We need food to live and work for this food. We use the money we get in exchange for working. The main thing is that we work for money. Our money transactions are done daily. However, in the case of money transactions or the use of money, we often do one thing, we will be obliged to give it to the bearer if we want it to be written on the money.
But have you ever thought, why is this word written on all the notes except 1 and 2 taka? You don't have to be an economist to know the answer to this question. So stop worrying! And know the simple answer to this question. Without delay let's know the real reason of writing this word on the money notes-
We know Bangladesh Bank is the only institution to print currency of Bangladesh. What is this currency? It is good for everyone to have some idea of what currency means.
Government currency of Bangladesh is two. 1 and 2 taka notes or coins are government currency and the rest are bills of exchange printed by the Bangladesh Bank in exchange for an equivalent amount of taka. Bangladesh Bank (Bangladesh Bank) prints notes against Tk. So it is the responsibility of Bangladesh Bank to the people of Bangladesh. Suppose, you can't trust bank notes for some reason. So you deposited a note of 100 taka at Bangladesh Bank counter and asked for exchange.
Bangladesh Bank will be released from liability by paying equal amount of Tk 1 and Tk 2 to the bearer on demand. This is the main issue. Let's explain the matter a bit more. Bangladesh Bank (Bangladesh Bank) takes the equivalent amount of 1 and 2 taka notes or coins from the government account (Account) to its own account when a note is released in the market. Again, when 1 and 2 rupees leave the market, the same amount of notes are deposited in the government account. That is, Bangladesh Bank withdraws money from the government.
As such, exactly the same amount of notes (1 and 2) as there are notes in the market are kept in the vault of Bangladesh Bank. So even if all the notes are deposited in the bank, Bangladesh Bank can give 1 and 2 taka coins/notes. 1 and 2 are taka, and the rest are bills of exchange. And that's why 1 and 2 taka notes don't have 'obliged to pay the bearer on demand'. The rest of the notes are written correctly.
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