General and special relationship between banker and customer pdf

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general and special relationship between banker and customer pdf

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Banker and Customer Relationship

Want to share anything with us? You can reach us at Gr8 A mbition Z Gmail. F riends, in our previous post we have discussed about the General Relationship between Banker and Customer. Today we shall see the Special relationship. The opening of an account by a customer with a banker creates an obligation on the banker towards its customer in respect of certain rights and responsibilities. Those rights and responsibilities are also known as "Special Features of Relationship between a Banker and Customer". The following are the special relationships between banker and customer :.

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The Law Relating to Bank-Customer Relationship: Some Salient Duties of Banks

Relationship between a banker and customer comes into existence when the banker agrees to open an account in the name of customer. The relationship between a banker and a customer depends on the activities, products or services provided by bank to its customers or availed by the customer. Thus the relationship between a banker and customer is the transaction relationship. Trust plays an important role in building healthy relationship between a banker and customer. Since a banker or a banking company undertakes banking related activities we can derive the meaning of banker or a banking company from Sec 5 b as a body corporate that:. Unless a person has an account with the bank, it does not accept deposit.


Relationship between banker and customer • Classified into – General Relationship – Special Relationship • General: Debtor and Creditor, Creditor and Debtor.


Special Relationship between Banker and Customer

He only has the right to produce an attested copy of the particular part of the account which can be considered as evidence before the court. A banker acts as an agent of his customer and performs a number of agency functions for the conveniences of his customer. In the light of a "massive erosion of the principle of confidentiality".

The relationship between a banker and a customer depends on the type of transaction. The term banking may define as accepting of deposit of money from the public for the purpose of lending or investing investment of that money which are repayable on demand or otherwise and with a draw by cheque, draft or order. A person who has a bank account in his name and for whom the banker undertakes to provide the facilities as a banker is considered to be a customer. On the opening of an account, the banker assumes the position of a debtor. A depositor remains a creditor of his banker so long as his account carries a credit balance.

This article is written by Abhinav Anand , a student pursuing B. LLB Hons. This article deals with the relationship between the banker and the customer. The relationship between a Banker and a Customer is based on trust. It is an effective banking system that paves the way for the proper growth of the economy.

Relationship Between Banker And Customer

Relationship between a banker and customer

The relationship between banker and customer is one of the most mutual relationships in the world. Now, customers are of many types. Regular customers like you and me, brokers, one-second party bank, etc.

Post a Comment. Follow by Email. Banker-Customer Relationship. The Banker-Customer Relationship. The relationship between the banker and the customer arises out of the contract entered in between them. This contract is created by mutual consent.

Relationship between Banker and Customer

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