The bank account from which money can be withdrawn daily only by cheque is :

Question

Accepted Answer

The correct answer to the question is Option 3: Current Account. Here is a detailed explanation supporting this choice:

1. **Explanation for Option 3 (Current Account):**
   - A current account is specifically designed for frequent transactions. It allows account holders to deposit and withdraw money as often as needed, making it ideal for businesses and individuals who require regular access to their funds.
   - Withdrawals from a current account can be made using cheques, which is a key feature of this type of account. This flexibility is crucial for managing day-to-day financial operations.
   - Current accounts typically do not have limits on the number of transactions that can be made, which aligns with the requirement of being able to withdraw money daily by cheque.

2. **Why Other Options are Incorrect:**

- **Option 1 (Fixed Deposit Account):**
     - A fixed deposit account is a type of savings account where money is deposited for a fixed term at a predetermined interest rate. Withdrawals before the maturity date are usually not allowed without incurring penalties, and transactions via cheque are not a feature of this account type.
   
   - **Option 2 (Recurring Deposit Account):**
     - A recurring deposit account is designed for regular, fixed deposits over a specified period. It does not allow for daily withdrawals by cheque, as the primary purpose is to encourage savings over time with a fixed interest rate.
   
   - **Option 4 (Savings Account):**
     - While savings accounts do allow for withdrawals, they are generally limited in terms of the number of transactions per month. They are not primarily designed for daily transactions by cheque, as they are intended to promote saving rather than frequent access to funds.

In conclusion, the current account is the only type of bank account that meets the criteria of allowing daily withdrawals by cheque, making Option 3 the correct answer.