Banker and customer relationship
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The document discusses the relationship between bankers and customers. It defines a banker as a person who manages or owns a bank, and a customer as a person who buys goods and services or has an account with a bank. The relationship can be classified as debtor-creditor, creditor-debtor, or involve special relationships where the banker acts as a trustee, bailee, lessor, or agent on behalf of the customer.
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BANKER AND CUSTOMER
This document appears to be a presentation or lecture on the relationship between bankers and customers. It defines what a banker and customer are, describes the general and special relationships that can exist between them, and lists some of the rights and duties of both parties. The key points covered include defining banker and customer, describing debtor/creditor and other types of relationships, and outlining rights such as lien and duties such as advising clients.
Banker customer relationship
The document discusses the banker-customer relationship. It defines a banker as someone who receives deposits and honors cheques/drafts subject to fund availability. A customer is anyone who has an account with the bank.
The key relationships between a banker and customer are:
1) Creditor-debtor, with the customer as creditor when making deposits, and debtor when taking loans
2) Principal-agent, when the bank provides services like bill payments on behalf of the customer
3) Other special relationships can include bailee-bailor for safe deposit boxes, pawnee-pawner for assets pledged as collateral.
The bank has obligations to maintain customer confidentiality, honor checks
Banker and Customer
The document discusses key concepts related to banking. It defines a banker as someone who accepts deposits that can be withdrawn by cheque and uses those deposits to make loans and investments. It also defines a customer as anyone who maintains a bank account. The relationship between banker and customer is described as debtor-creditor, principal-agent, and other specialized relationships like bailee-bailor and mortgagor-mortgagee. The document also outlines key obligations of bankers like honoring checks, maintaining confidentiality, and handling accounts of deceased customers.
Chapter 10 banker- customer relationship
The document discusses key definitions and concepts related to banking law in India. It defines terms like "banker" and "customer" and outlines how the legal relationship between them is established. It also examines the various roles and duties of a banker, including as a debtor, trustee, agent, and bailee. The document also discusses exceptions to the general duty of confidentiality bankers owe to customers, as well as how the banker-customer relationship can be terminated.
Relationhip between banker and customer
The relationship between a banker and customer depends on the type of activities and services provided by the bank. The Banking Regulation Act 1949 defines banking as accepting deposits from the public that are repayable on demand and allowing withdrawals by cheque. Customers can be existing customers with accounts, former customers, potential customers, or those who visit a branch but don't have accounts. The relationship is based on a contract and terms and conditions, and can take various forms like debtor-creditor for deposits, creditor-debtor for loans, trustee for safekeeping assets, bailee-bailor for safe deposit lockers, or lessor-lessee for rented property.
Relationship Between Banker and Customer
elationship between banker and customer
,
definition of a banker and customer
,
definition of banking
,
general relationship between banker and customer
,
relationship as debtor and creditor
,
special relationship: banker as trustee
,
pawner and pawnee
,
bailer and bailment relationship
,
mortgager and mortgagee relationship
,
executer
,
attorney
,
guarantor
,
duties of a customer
,
rights and duties of the banker towards the custom
,
rights of a banker
,
garnishee order
Banker And Customer Realationship5
The relationship between bankers and customers is important. Bankers are dealers in capital who borrow from depositors and lend to borrowers, acting as intermediaries. Customers maintain accounts with banks. The general relationship is one of debtor and creditor, with banks owing safekeeping of deposits. There are also special relationships, like principal and agent when banks perform services on customers' behalf, or bailee and bailer for safekeeping of valuables. Customers have rights like accessing accounts, while banks have duties like honoring checks according to terms of accounts and loans. Both parties also have obligations regarding secrecy of accounts.
Collection of cheque chapter 2
The document discusses the roles and responsibilities of a collecting banker when handling cheque collections. It outlines that a collecting banker can act either as a holder for value or as an agent of the customer. As a holder for value, the collecting banker enjoys rights similar to a holder in due course. As an agent, the banker must take precautions to avoid liability for conversion. The document also discusses the statutory protection provided to collecting bankers under Section 131 of the Negotiable Instruments Act if they collect payment in good faith and without negligence. It provides examples of negligence and outlines various duties and precautions collecting bankers must follow.
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BANKER AND CUSTOMER
This document appears to be a presentation or lecture on the relationship between bankers and customers. It defines what a banker and customer are, describes the general and special relationships that can exist between them, and lists some of the rights and duties of both parties. The key points covered include defining banker and customer, describing debtor/creditor and other types of relationships, and outlining rights such as lien and duties such as advising clients.
Banker customer relationship
The document discusses the banker-customer relationship. It defines a banker as someone who receives deposits and honors cheques/drafts subject to fund availability. A customer is anyone who has an account with the bank.
The key relationships between a banker and customer are:
1) Creditor-debtor, with the customer as creditor when making deposits, and debtor when taking loans
2) Principal-agent, when the bank provides services like bill payments on behalf of the customer
3) Other special relationships can include bailee-bailor for safe deposit boxes, pawnee-pawner for assets pledged as collateral.
The bank has obligations to maintain customer confidentiality, honor checks
Banker and Customer
The document discusses key concepts related to banking. It defines a banker as someone who accepts deposits that can be withdrawn by cheque and uses those deposits to make loans and investments. It also defines a customer as anyone who maintains a bank account. The relationship between banker and customer is described as debtor-creditor, principal-agent, and other specialized relationships like bailee-bailor and mortgagor-mortgagee. The document also outlines key obligations of bankers like honoring checks, maintaining confidentiality, and handling accounts of deceased customers.
Chapter 10 banker- customer relationship
The document discusses key definitions and concepts related to banking law in India. It defines terms like "banker" and "customer" and outlines how the legal relationship between them is established. It also examines the various roles and duties of a banker, including as a debtor, trustee, agent, and bailee. The document also discusses exceptions to the general duty of confidentiality bankers owe to customers, as well as how the banker-customer relationship can be terminated.
Relationhip between banker and customer
The relationship between a banker and customer depends on the type of activities and services provided by the bank. The Banking Regulation Act 1949 defines banking as accepting deposits from the public that are repayable on demand and allowing withdrawals by cheque. Customers can be existing customers with accounts, former customers, potential customers, or those who visit a branch but don't have accounts. The relationship is based on a contract and terms and conditions, and can take various forms like debtor-creditor for deposits, creditor-debtor for loans, trustee for safekeeping assets, bailee-bailor for safe deposit lockers, or lessor-lessee for rented property.
Relationship Between Banker and Customer
elationship between banker and customer
,
definition of a banker and customer
,
definition of banking
,
general relationship between banker and customer
,
relationship as debtor and creditor
,
special relationship: banker as trustee
,
pawner and pawnee
,
bailer and bailment relationship
,
mortgager and mortgagee relationship
,
executer
,
attorney
,
guarantor
,
duties of a customer
,
rights and duties of the banker towards the custom
,
rights of a banker
,
garnishee order
Banker And Customer Realationship5
The relationship between bankers and customers is important. Bankers are dealers in capital who borrow from depositors and lend to borrowers, acting as intermediaries. Customers maintain accounts with banks. The general relationship is one of debtor and creditor, with banks owing safekeeping of deposits. There are also special relationships, like principal and agent when banks perform services on customers' behalf, or bailee and bailer for safekeeping of valuables. Customers have rights like accessing accounts, while banks have duties like honoring checks according to terms of accounts and loans. Both parties also have obligations regarding secrecy of accounts.
Collection of cheque chapter 2
The document discusses the roles and responsibilities of a collecting banker when handling cheque collections. It outlines that a collecting banker can act either as a holder for value or as an agent of the customer. As a holder for value, the collecting banker enjoys rights similar to a holder in due course. As an agent, the banker must take precautions to avoid liability for conversion. The document also discusses the statutory protection provided to collecting bankers under Section 131 of the Negotiable Instruments Act if they collect payment in good faith and without negligence. It provides examples of negligence and outlines various duties and precautions collecting bankers must follow.
Banker and customer relationships
The document discusses various types of relationships that can exist between banks and their customers. It defines a banker as someone who receives money and handles financial transactions for customers, and a customer as someone who has an account with the bank.
The relationships are categorized as general relationships and special relationships. General relationships include debtor-creditor, agent-principal, trustee-beneficiary, bailee-bailor, and pawnee-pawner. Special relationships address guarantees, indemnifiers, and specific types of customers like minors, married women, illiterate persons, and joint Hindu families. Duties and legal aspects are discussed for each relationship type.
Collecting and paying banker
The document discusses the roles and responsibilities of collecting bankers and paying bankers when dealing with cheques. It outlines two options a customer has when receiving a cheque - depositing it directly or sending it to their banker for collection. It explains that a collecting banker can act as a holder for value or as an agent, and describes the conditions under which they are considered a holder for value. The duties of paying bankers to verify cheque details and ensure sufficient funds are also summarized. Finally, it discusses the statutory protections provided to collecting and paying bankers if they act in good faith and without negligence.
Chapter 3
This document provides an overview of various banking operations including the roles of collecting and paying bankers, types of lending facilities, and non-performing assets. It discusses the duties of collecting bankers to carefully collect checks and notify customers of dishonored checks. Paying bankers must take precautions when honoring checks and can refuse payment for specific reasons. Banks offer various lending facilities like loans, cash credits, overdrafts and letters of credit. Non-performing assets are loans where borrowers do not repay principal or interest for a certain period.
Duties of Collecting Banker
A collecting banker undertakes to collect amounts from cheques and bills for customers by presenting them to the paying banker. As an agent of the customer, the collecting banker has duties to exercise reasonable care and diligence in the collection process. They must present cheques and bills promptly to avoid losses from insolvency, provide timely notice if an item is dishonored, and present bills for acceptance at an early date to fix the maturity date. If the collecting banker fails in these duties and a loss occurs, they are responsible to the customer.
Different Types of Cheque
There are several types of cheques:
Bearer cheques can be endorsed to anyone holding the cheque and no identification is required. Order cheques can only be cashed by the named payee. Crossed cheques can only be deposited, not cashed. Account payee cheques are deposited directly into the named payee's account. A cheque is considered stale if over 3 months old. Post dated and ante dated cheques are dated for the future or past respectively. Self cheques allow the drawer to withdraw for themselves. Traveler's cheques can be cashed while traveling abroad. Blank cheques only contain the drawer's signature.
Negotiable instrument
This document provides an overview of negotiable instruments under the Negotiable Instruments Act 1881. It defines negotiable instruments and discusses their key characteristics, elements, types. It then describes the specific types of negotiable instruments - promissory notes, bills of exchange, and cheques. It outlines the parties involved, essentials and format for each type. The document also discusses negotiation, presentment, and dishonour of negotiable instruments.
S.y. banking ch 1
This document discusses key definitions and concepts related to banking law and the banker-customer relationship in India. It defines a banker according to Sir John Paget and defines a customer based on the "duration theory". It outlines general characteristics of the banker-customer relationship including that the banker is a privileged debtor, has the right of set-off, and can lend deposited funds. It also discusses special characteristics such as the banker's obligation to honor checks, maintain account secrecy, exercise lien, and charge incidental fees. The document provides context and examples for understanding these important banking law concepts in India.
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The document provides information on opening letter of credit procedures, including:
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- Describing the 5 major steps in an LC transaction: issuing, advising, amendment, presentation, and settlement.
- Explaining types of LCs like revolving, back-to-back, transferable, and standby credits.
- Listing documents required for opening an LC like the application form, proforma invoice, insurance cover note, and import registration.
- Noting banks must check applicant signature, proforma invoice acceptance, importer entitlement, and restricted items
Negotiable instruments act 1881
The document defines negotiable instruments and describes their key characteristics. Negotiable instruments include promissory notes, bills of exchange, and checks. They are freely transferable by delivery or endorsement, the holder has title free of defects, and they must be payable to order or bearer. Common types are also defined, including essential elements of each. In conclusion, negotiable instruments play an important role in the modern financial system by providing safety for financial transactions and requirements.
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The document discusses negotiable instruments including promissory notes, bills of exchange, and cheques. It defines these instruments and outlines their essential elements. Promissory notes must contain an unconditional promise to pay a certain sum of money. Bills of exchange must contain an unconditional order to pay money. Cheques are a type of bill of exchange that is always payable on demand and drawn on a bank. The document provides examples of specimens for each type of instrument.
Banker & customer
The document discusses the relationship between bankers and customers. It defines a banker as a person who receives money from customers and repays it on demand. A customer is a person who has an account, either deposit or current, with the banker.
The relationship is contractual, with the banker as debtor and the customer as creditor. However, the roles can be reversed if the banker lends money to the customer. The relationship also involves aspects of an agency with obligations and rights on both sides.
The document outlines circumstances when a banker must or may dishonor a customer's cheque, as well as protections afforded to paying and collecting bankers.
Rights and obligations of banker
The document discusses the relationship between bankers and customers. It defines key terms like banker, customer, and the various types of relationships that can exist between them such as creditor-debtor, debtor-creditor, beneficiary-trustee, and principal-agent. It also outlines the obligations of banks, rights of bankers, special types of customers like minors and partnerships, and principles of lending.
BANKER CUSTOMER RELATIONSHIP
The relationship between a banker and a customer can take several forms depending on the type of account or transaction. The main relationships include:
1. Creditor-debtor, with the customer as creditor and banker as debtor for deposit accounts.
2. Debtor-creditor, with the roles reversed for loan accounts where the customer is the debtor.
3. Trustee-beneficiary for safe deposit accounts, where the banker acts as trustee for items kept for safekeeping.
The banker also has obligations to maintain customer confidentiality and honor checks properly presented, while customers must abide by terms of accounts like joint accounts.
Banker customer relationship
The document discusses the banker-customer relationship under Indian law. It defines key concepts like banking, the contractual relationship that arises from opening an account, implied terms of the contract, duties and rights of both parties, termination of the contract, banker's lien and right of set-off. It also covers exceptions to the banker's duty of confidentiality, implied duties of care, and the effects of insolvency on the relationship.
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This is a presentation made on cheques ,It consists of all the information about : what are cheques,its legal definition, its history, the generalized features, the cheque types depending on the situation we use then and all the security features of cheques and the related case study.
Banker and Customer Relationship
The summary provides an overview of the key aspects of the relationship between a banker and a customer according to the document:
1. The relationship can be general, where the banker is a debtor and the customer is a creditor, or it can be special, with the banker taking on additional roles as a trustee, bailee, lessor, agent, custodian, or guarantor.
2. Banks must follow know-your-customer guidelines and apply customer due diligence to comply with anti-money laundering regulations.
3. The main types of bank accounts are current accounts, savings accounts, fixed/term deposits, and recurring deposits, each with different eligibility and features.
Security &advances ppt
This document discusses the various types of securities that banks accept when providing secured advances to customers. It outlines 7 main types of securities: advances against goods, documents of title to goods, stock exchange securities, life insurance policies, fixed deposit receipts, book debts, and real estate. For each type, it provides guidelines on the precautions banks should take, such as only accepting goods that are easily marketable, verifying the authenticity of documents, and ensuring the borrower has ownership of pledged assets. Maintaining the safety, liquidity, and profitability of loans is key.
Endorsement
This document defines and explains endorsement of negotiable instruments. It begins by defining endorsement as signing over the right to receive payment from a negotiable instrument to another person. It then discusses the key parties in an endorsement - the endorser who signs and the endorsee in whose favor it is made. The document outlines the essential requirements for a valid endorsement and various legal provisions and rules regarding endorsement. It concludes by defining and explaining the different types of endorsements including blank, special, conditional, restrictive, sans recourse, facultative, forged, and partial endorsements.
Negotiable instruments
This document provides an overview of negotiable instruments under Indian law. It defines negotiable instruments as documents that are transferable by delivery and includes promissory notes, bills of exchange, and cheques. It discusses key characteristics like being freely transferable, providing the transferee better title, and allowing the holder to sue in their own name. The document also covers presumptions related to negotiable instruments, defines different types of instruments like bills of exchange and promissory notes, and discusses endorsement, crossing, dishonour, discharge and other concepts related to negotiable instruments.
Banker and customer relationship
A banker is responsible for maintaining positive customer relationships and delivering effective sales strategies. The term "customer" refers to the person who maintains an account at a specific bank branch. A banker-customer relationship is a special contract where a customer entrusts valuable items to the banker with the intention of retrieving them on demand. This relationship is that of a debtor-creditor or pledger-pledgee. Types of bank accounts include current accounts, savings accounts, recurring deposits, and fixed/term deposits. A banker-customer relationship can end due to the death, insolvency, or lunacy of the customer, the customer or bank closing the account, the liquidation of a company, or the completion of a contract
2 banker -_customer_relationship
The document discusses the various types of relationships that exist between a banker and a customer. It outlines the different types of transactions such as deposits, loans, cheque collection, standing instructions, purchase of demand drafts/money transfers, safe custody of articles, and safe deposit lockers. For each transaction type, it explains the nature of the legal relationship between the banker and the customer, such as debtor-creditor, creditor-debtor, agent-principal, bailee-bailor, and lessor-lessee. The document also addresses questions related to closing an undesirable account, limitation period for savings bank accounts, termination of the banker-customer relationship, and rights regarding unsatisfactory accounts.
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Banker and customer relationships
The document discusses various types of relationships that can exist between banks and their customers. It defines a banker as someone who receives money and handles financial transactions for customers, and a customer as someone who has an account with the bank.
The relationships are categorized as general relationships and special relationships. General relationships include debtor-creditor, agent-principal, trustee-beneficiary, bailee-bailor, and pawnee-pawner. Special relationships address guarantees, indemnifiers, and specific types of customers like minors, married women, illiterate persons, and joint Hindu families. Duties and legal aspects are discussed for each relationship type.
Collecting and paying banker
The document discusses the roles and responsibilities of collecting bankers and paying bankers when dealing with cheques. It outlines two options a customer has when receiving a cheque - depositing it directly or sending it to their banker for collection. It explains that a collecting banker can act as a holder for value or as an agent, and describes the conditions under which they are considered a holder for value. The duties of paying bankers to verify cheque details and ensure sufficient funds are also summarized. Finally, it discusses the statutory protections provided to collecting and paying bankers if they act in good faith and without negligence.
Chapter 3
This document provides an overview of various banking operations including the roles of collecting and paying bankers, types of lending facilities, and non-performing assets. It discusses the duties of collecting bankers to carefully collect checks and notify customers of dishonored checks. Paying bankers must take precautions when honoring checks and can refuse payment for specific reasons. Banks offer various lending facilities like loans, cash credits, overdrafts and letters of credit. Non-performing assets are loans where borrowers do not repay principal or interest for a certain period.
Duties of Collecting Banker
A collecting banker undertakes to collect amounts from cheques and bills for customers by presenting them to the paying banker. As an agent of the customer, the collecting banker has duties to exercise reasonable care and diligence in the collection process. They must present cheques and bills promptly to avoid losses from insolvency, provide timely notice if an item is dishonored, and present bills for acceptance at an early date to fix the maturity date. If the collecting banker fails in these duties and a loss occurs, they are responsible to the customer.
Different Types of Cheque
There are several types of cheques:
Bearer cheques can be endorsed to anyone holding the cheque and no identification is required. Order cheques can only be cashed by the named payee. Crossed cheques can only be deposited, not cashed. Account payee cheques are deposited directly into the named payee's account. A cheque is considered stale if over 3 months old. Post dated and ante dated cheques are dated for the future or past respectively. Self cheques allow the drawer to withdraw for themselves. Traveler's cheques can be cashed while traveling abroad. Blank cheques only contain the drawer's signature.
Negotiable instrument
This document provides an overview of negotiable instruments under the Negotiable Instruments Act 1881. It defines negotiable instruments and discusses their key characteristics, elements, types. It then describes the specific types of negotiable instruments - promissory notes, bills of exchange, and cheques. It outlines the parties involved, essentials and format for each type. The document also discusses negotiation, presentment, and dishonour of negotiable instruments.
S.y. banking ch 1
This document discusses key definitions and concepts related to banking law and the banker-customer relationship in India. It defines a banker according to Sir John Paget and defines a customer based on the "duration theory". It outlines general characteristics of the banker-customer relationship including that the banker is a privileged debtor, has the right of set-off, and can lend deposited funds. It also discusses special characteristics such as the banker's obligation to honor checks, maintain account secrecy, exercise lien, and charge incidental fees. The document provides context and examples for understanding these important banking law concepts in India.
Lc procedure @ hrtdc 1
The document provides information on opening letter of credit procedures, including:
- Defining key parties in an LC transaction such as the issuing bank, beneficiary, applicant, and advising bank.
- Describing the 5 major steps in an LC transaction: issuing, advising, amendment, presentation, and settlement.
- Explaining types of LCs like revolving, back-to-back, transferable, and standby credits.
- Listing documents required for opening an LC like the application form, proforma invoice, insurance cover note, and import registration.
- Noting banks must check applicant signature, proforma invoice acceptance, importer entitlement, and restricted items
Negotiable instruments act 1881
The document defines negotiable instruments and describes their key characteristics. Negotiable instruments include promissory notes, bills of exchange, and checks. They are freely transferable by delivery or endorsement, the holder has title free of defects, and they must be payable to order or bearer. Common types are also defined, including essential elements of each. In conclusion, negotiable instruments play an important role in the modern financial system by providing safety for financial transactions and requirements.
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The document discusses negotiable instruments including promissory notes, bills of exchange, and cheques. It defines these instruments and outlines their essential elements. Promissory notes must contain an unconditional promise to pay a certain sum of money. Bills of exchange must contain an unconditional order to pay money. Cheques are a type of bill of exchange that is always payable on demand and drawn on a bank. The document provides examples of specimens for each type of instrument.
Banker & customer
The document discusses the relationship between bankers and customers. It defines a banker as a person who receives money from customers and repays it on demand. A customer is a person who has an account, either deposit or current, with the banker.
The relationship is contractual, with the banker as debtor and the customer as creditor. However, the roles can be reversed if the banker lends money to the customer. The relationship also involves aspects of an agency with obligations and rights on both sides.
The document outlines circumstances when a banker must or may dishonor a customer's cheque, as well as protections afforded to paying and collecting bankers.
Rights and obligations of banker
The document discusses the relationship between bankers and customers. It defines key terms like banker, customer, and the various types of relationships that can exist between them such as creditor-debtor, debtor-creditor, beneficiary-trustee, and principal-agent. It also outlines the obligations of banks, rights of bankers, special types of customers like minors and partnerships, and principles of lending.
BANKER CUSTOMER RELATIONSHIP
The relationship between a banker and a customer can take several forms depending on the type of account or transaction. The main relationships include:
1. Creditor-debtor, with the customer as creditor and banker as debtor for deposit accounts.
2. Debtor-creditor, with the roles reversed for loan accounts where the customer is the debtor.
3. Trustee-beneficiary for safe deposit accounts, where the banker acts as trustee for items kept for safekeeping.
The banker also has obligations to maintain customer confidentiality and honor checks properly presented, while customers must abide by terms of accounts like joint accounts.
Banker customer relationship
The document discusses the banker-customer relationship under Indian law. It defines key concepts like banking, the contractual relationship that arises from opening an account, implied terms of the contract, duties and rights of both parties, termination of the contract, banker's lien and right of set-off. It also covers exceptions to the banker's duty of confidentiality, implied duties of care, and the effects of insolvency on the relationship.
Indemnity and guarantee contracts
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Cheques
This is a presentation made on cheques ,It consists of all the information about : what are cheques,its legal definition, its history, the generalized features, the cheque types depending on the situation we use then and all the security features of cheques and the related case study.
Banker and Customer Relationship
The summary provides an overview of the key aspects of the relationship between a banker and a customer according to the document:
1. The relationship can be general, where the banker is a debtor and the customer is a creditor, or it can be special, with the banker taking on additional roles as a trustee, bailee, lessor, agent, custodian, or guarantor.
2. Banks must follow know-your-customer guidelines and apply customer due diligence to comply with anti-money laundering regulations.
3. The main types of bank accounts are current accounts, savings accounts, fixed/term deposits, and recurring deposits, each with different eligibility and features.
Security &advances ppt
This document discusses the various types of securities that banks accept when providing secured advances to customers. It outlines 7 main types of securities: advances against goods, documents of title to goods, stock exchange securities, life insurance policies, fixed deposit receipts, book debts, and real estate. For each type, it provides guidelines on the precautions banks should take, such as only accepting goods that are easily marketable, verifying the authenticity of documents, and ensuring the borrower has ownership of pledged assets. Maintaining the safety, liquidity, and profitability of loans is key.
Endorsement
This document defines and explains endorsement of negotiable instruments. It begins by defining endorsement as signing over the right to receive payment from a negotiable instrument to another person. It then discusses the key parties in an endorsement - the endorser who signs and the endorsee in whose favor it is made. The document outlines the essential requirements for a valid endorsement and various legal provisions and rules regarding endorsement. It concludes by defining and explaining the different types of endorsements including blank, special, conditional, restrictive, sans recourse, facultative, forged, and partial endorsements.
Negotiable instruments
This document provides an overview of negotiable instruments under Indian law. It defines negotiable instruments as documents that are transferable by delivery and includes promissory notes, bills of exchange, and cheques. It discusses key characteristics like being freely transferable, providing the transferee better title, and allowing the holder to sue in their own name. The document also covers presumptions related to negotiable instruments, defines different types of instruments like bills of exchange and promissory notes, and discusses endorsement, crossing, dishonour, discharge and other concepts related to negotiable instruments.
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Banker and customer relationship
A banker is responsible for maintaining positive customer relationships and delivering effective sales strategies. The term "customer" refers to the person who maintains an account at a specific bank branch. A banker-customer relationship is a special contract where a customer entrusts valuable items to the banker with the intention of retrieving them on demand. This relationship is that of a debtor-creditor or pledger-pledgee. Types of bank accounts include current accounts, savings accounts, recurring deposits, and fixed/term deposits. A banker-customer relationship can end due to the death, insolvency, or lunacy of the customer, the customer or bank closing the account, the liquidation of a company, or the completion of a contract
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The document discusses the various types of relationships that exist between a banker and a customer. It outlines the different types of transactions such as deposits, loans, cheque collection, standing instructions, purchase of demand drafts/money transfers, safe custody of articles, and safe deposit lockers. For each transaction type, it explains the nature of the legal relationship between the banker and the customer, such as debtor-creditor, creditor-debtor, agent-principal, bailee-bailor, and lessor-lessee. The document also addresses questions related to closing an undesirable account, limitation period for savings bank accounts, termination of the banker-customer relationship, and rights regarding unsatisfactory accounts.
Banker customer relationship
This document discusses the banker-customer relationship. It defines a customer as someone who has an account, such as a deposit or current account, with a bank. It outlines the qualifications needed to be a customer, including not being a minor and being of sound mind. The rights of customers include drawing checks against their credit balance and suing the bank for wrongful dishonor of checks or lack of secrecy. Duties of customers include timely check presentation and safekeeping of checkbooks. The rights of bankers include lien and set-off. The relationship can terminate via notice, death, insanity, insolvency, court order, or unsatisfactory operations.
Banker customer relationship
The document discusses the various types of relationships that can exist between a bank and its customers. It describes a banker as a dealer in capital who acts as an intermediary by borrowing from depositors and lending to others. A customer is defined as a person who has an account with the bank. The core relationships discussed are that of creditor-debtor when a customer deposits money, and debtor-creditor when a customer borrows from the bank. The document also outlines other relationships such as principal-agent, trustee-beneficiary, pawnee-pawner, mortgagee-mortgagor, and guarantor-guarantee.
BANKER CUSTOMER RELATIONSHIP
This document discusses the relationship between bankers and their customers, including their mutual rights and duties. It defines a banker as a financial institution that accepts deposits and lends money, and a customer as a person who has an account with a bank. The relationship can take several forms - debtor/creditor when a customer deposits money; bailor/bailee for safe deposit services; principal/agent when the bank acts on a customer's behalf; and trustee/beneficiary if a customer deposits securities for safekeeping. Mutual rights include set-off, appropriation, and charging interest on loans. Mutual duties include maintaining secrecy, honoring checks, following instructions, providing proper service, and submitting account statements.
Banker and customer relationship
The document discusses key definitions and concepts relating to the banker-customer relationship under UK law, including:
1) The definition of a bank focuses on collecting deposits, paying cheques, and keeping customer accounts. A customer relationship is formed upon account opening.
2) Regulations include various Banking Codes covering retail, business, and mortgage customers. The Data Protection Act governs use of customer data.
3) Key implied terms in the banker-customer contract include duties to repay deposits, honour valid instructions, give notice before account closure, and maintain confidentiality of customer information.
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The document discusses the relationship between bankers and customers. It defines key terms like banker, customer, and the different types of relationships that can exist between them such as creditor-debtor, trustee-beneficiary, principal-agent, and lessee-lessor. It outlines the obligations of banks to customers like honoring checks and maintaining secrecy. It also describes the rights of bankers including lien and set-off. Special types of customers like minors, drunkards, lunatics, partnerships and companies are also discussed.
Banker customer relationship
The document discusses the relationship between bankers and customers. It outlines that they have a contractual relationship and the banker acts as an intermediary between borrowers and lenders. The main relationships discussed are:
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3. Principal-agent, with the banker performing services like collections and payments as an agent for the customer principal.
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A banker is defined as someone who receives money and collects checks and drafts for customers, with an obligation to honor checks drawn by customers subject to available balances. A banker must pay valid checks presented for payment from a customer's account per banking regulations. However, a banker may refuse payment if a garnishee order from a court is served, instructing the banker not to pay the customer. Key obligations of bankers include maintaining secrecy of customer accounts except as required by law, and appropriately paying or refusing payment of checks based on banking rules and regulations.
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This document defines key terms related to banking relationships. It states that while the Banking Regulations Act does not define "banker", it is generally considered to be someone who receives money and processes transactions for customers. A customer is defined as someone who has an account with a bank. The relationship between a banker and customer can be general, involving roles like creditor-debtor, or special, involving roles like trustee, bailee, agent, or custodian. Duties of bankers include maintaining secrecy, honoring transactions, and submitting statements. Rights of bankers include general lien, pledge, set-off, appropriation, and charging interest.
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This document discusses the banker-customer relationship and the duties and rights of both parties. It covers topics such as:
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- The types of transactions between a banker and customer and the roles each play (e.g. debtor, creditor)
- The duties of a banker including honoring checks, maintaining secrecy, and rendering accounts
- Exceptions where a banker can disclose customer information or break secrecy
- The rights of a banker including lien, set-off, and appropriation
- When the relationship can be terminated and the customer's corresponding duties
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- House property and speculation losses can be set off against income in the respective heads. House property losses can be carried forward for 8 years, while speculation losses can be carried
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2. Socially, customers are classified based on their gender, age, profession, income, manner, and occupation.
3. The types of individual customers discussed include single accounts, joint accounts, minor accounts, illiterate persons, blind persons, pardanasin women, insane persons, and insolvent persons. Requirements for operating these different types of accounts are also provided.
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The relationship between bankers and customers is important, as they both serve society and the economy. A banker is defined as accepting deposits from the public that are repayable on demand. A customer maintains an account with the bank.
The relationship involves general debtor-creditor aspects, with the bank as debtor owing the customer's deposit. Special relationships also exist, such as bailor-bailee. Customers have duties like timely check presentation and care of checkbooks. Banks have duties like honoring checks and maintaining account secrecy. Both parties have corresponding rights around accounts, compensation, and services.
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The document provides guidance on how to handle different types of customers in a service environment. It discusses how to effectively deal with tough, uncertain, angry, knowledgeable, and friendly customers. Key recommendations include listening actively, maintaining eye contact, keeping calm and clear communication, and tailoring your level of detail to the customer. The document also stresses the importance of customer service, noting statistics on customer loyalty, retention, and profits that can be impacted by service quality.
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Bankercustomerrelationship 091117065209-phpapp01 (1)
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The document discusses the relationship between bankers and customers. It defines key terms like banker, customer, and different types of relationships such as general relationship, special relationship, and duties and rights of each party. The general relationship is that of creditor-debtor, with the customer as creditor and banker as debtor for deposit accounts. For loan accounts, it is debtor-creditor. Special relationships include banker as trustee, bailee-bailor, agent-principal, and custodian. The document also outlines how the relationship can terminate and lists duties of bankers like maintaining secrecy and honoring cheques, as well as rights like lien and set-off.
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The document discusses the relationship between bankers and customers. It begins by explaining that the relationship is a transactional one that is formed when a customer opens an account. It then defines banking and customers. There are various types of relationships that can exist, including general relationships like debtor-creditor when a customer deposits money, and creditor-debtor when a customer takes a loan. Special relationships also exist, such as bank as trustee and customer as beneficiary for safe deposit accounts. The document provides examples of other special relationships like bailee-bailor, lessor-lessee, agent-principal, and more.
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The document discusses the various types of relationships that can exist between a banker and a customer. There are transactional relationships where the bank provides products and services to customers. Additionally, relationships include creditor-debtor where the depositor lends money to the bank; beneficiary-trustee when valuables or money are kept for safekeeping; principal-agent for ancillary services; and lessee-lessor for safe deposit lockers. Maintaining trust is important for building healthy banker-customer relationships.
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The document discusses the relationship between bankers and customers. It defines bankers as dealers in capital who borrow from depositors and lend to borrowers. Customers are those who maintain bank accounts. The relationship involves general debtor-creditor ties where the bank owes customers the security of deposits. It also covers special agency relationships where the bank acts on customers' behalf. Overall, the document outlines the rights and duties of both bankers and customers in their relationship.
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Banker and customer relationship
- 1. BANKER AND CUSTOMER RELATIONSHIP PRESENTED BY :- RITESH MAHESHWARI PRESENTED TO :- …………………………….. BANKING THEORY LAW & PRACTICES
- 2. BANKER • A person who manages or owns a bank or group of banks is known as “BANKER.” • H.L. HART – the banker is one who receives money, collects cheques and draft, for customers, with an obligation to honour the cheques drawn by customers from time to time subject to availability of amounts in the accounts. • Section 3 of Negotiable Instruments Act, 1881 & section 2 of Bill of Exchange Act 1882,
- 3. CUSTOMER • In sales, commerce, and economics a “CUSTOMER” known as a client, buyer, or purchaser. • A person who buys goods and services from shop or a business entity. • A person / company/ entity who has an account with a bank is a customer. • A person of a specified kind with whom one has to deal.
- 4. CLASSIFICATION OF RELATIONSHIP •Debtor - Creditor •Creditor - Debtor General Relationship •Bank as a Trustee •Bailee – Bailor •Lessor and Lessee •Agent and Principle Special Relationship
- 5. Special Relationship :- a) Bank as a trustee -: As per Sec 3 of Indian Trust Act, 1882, A person who holds the title to property for the benefit of another. b) Bailee – Bailor -: The person to whom they are delivered the goods is called, the “Bailee.” The person delivering the goods is called the “Bailor.” c) Lessor & Lessee -: A person who conveys the possession of real or personal property under a lease is known as “Lessor.” A person who holds the lease of a property is known as “Lessee.” d) Agent & Principle -: A person who acts on behalf of another, like – broker, spokesman, factor go - between is called an “Agent.” The person for whom such act is done or who is so represented is called “The Principle.”