“Public Deposit is known as Fair Weather friends’-Explain statemen – InterviewSolution

1.	“Public Deposit is known as Fair Weather friends’-Explain statement.
Answer» Fair weather friend is a friend who is friendly or available only when it is advantageous to him. People invest money as public deposit in the companies when they get assured returns. Interest of these depositors is purely to earn by lending money to the company When the company is under financial crisis and if such news or rumors gets spread in the market then depositors rush to company to withdraw their money even before the maturity date. This creates financial problems for the company and so public deposits are considered fair weather friends.

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