Banking Law

Step 1: Understand types of deposits.
- Fixed Deposits are also known as time deposits because the money is deposited for a fixed tenure, and interest is paid accordingly.

Step 1: Identify the relevant law.
- Provisions regarding lien, such as a right to retain goods until payment, are found in the Indian Contract Act, 1872.

Step 1: Review relevant sections.
- A promissory note is defined under Section 2 of the Negotiable Instruments Act, 1881.