presentation is the relationship between customer and bank
TRANSCRIPT
The Relationship between the banker and customer is very important. Both serve the society to grow and the economy to expand.
Debtor versus creditor Trusty versus beneficiary Principle versus agent
The Relationship Of a
Banker And a
Customer
The true relationship between banker and customer is primarily of debtor and creditor.
When a customer deposit money with a bank, the bank then is the debtor and the customer is the creditor
The bank acts as a trustee for the customer in those cases where bank accept securities and valuable for safe custody. A trustee performs certain functions for the benefit of some other person called the beneficiary.
A banker acts as an agent of his customer and performs a number of agency functions for the convenience of his customers.
For example he buys or sells securities on behalf of his customer, collects cheque on his behalf and makes payment of various dues of his customers.
The Obligation Of a Banker
Obligation to honor the cheque
Obligation to maintain the secrecy of account
Obligation to honor the cheque
Fund must be available to repay the cheque Fund must be available in customer account Banker must repay the cheque timely
Obligation to maintain the secrecy of account
Never expose the customer in formations
Record book must be secured