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The basic function of a banker is accepting of money from the public by way of deposits and deploying the same by means of loans and investments. Besides these functions, bankers render a variety of services to their customers, like providing locker facility, keeping articles in safe custody, collecting bills, cheques, ATM Services, tele-banking, internet banking, and so on. While rendering these services, different types of relationships are created between the banker and the customers, depending upon the nature of services rendered. Banker-customer relationship is thus a contractual relationship, where one person (called customer) entrusts valuable items, like money, jewelry, important and valuable documents, etc., to another person (called a banker) with an intention that such items shall be retrieved on demand.
Thus the banker is the one who is entrusted with the above mentioned valuable items, like money, jewels, etc., while the person who entrusts these items with a view to retrieve it on demand is called the customer. This relation between a banker and a customer is a contractactual relationship, which is based on certain terms and conditions. When a customer deposits his money into a savings bank account, the relationship that is established is that of the debtor and the creditor as long as the customer's funds are with the banker. This relationship is called the primary relationship. This position is reversed when the banker lends to the customer.
TRANSACTION
BANKER
CUSTOMER
Deposit in the Bank
Debtor
Creditor
Loan from the Bank
Creditor
Debtor
Locker
Lessor
Lessee
Safe Custody
Bailee
Bailor
Collection of Cheque
Agent
Principal
Pledge
Pawner (Pledgee)
Pawnee (Pledgor)
Mortgage
Mortgagee
Mortgagor
Hypothecation
Hypothecatee
Hypothecator
Shares given for Sale
Agent
Principal
M.J. SUBRAMANYAM, XCHANGING, MUMBAI
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Relationship between housekeeping and front office?
I assume that when you ask "Relationship between housekeeping and front office" you are asking "How can I have a relationship if the person I love works in an office, but I am a housekeeper?" (Or vica verca) So that is the question I am going to answer. Well, if you really want to have a relationship with this person from the office, (or housekeeper) you must be sure to make time to be together, outside of the home and/or office. Set aside evenings for dinner dates. Set aside weekends to go to the zoo or park together. Set aside any time at all...just so you and that special person can get together and see each other, and talk over things together. Sound good? I hope I helped! :) -HR
What is the relationship between state and law?
Distinguish between a public law relationship and a private law relationship.
What is the relationship between ethics?
What is the relationship between ethics and WHAT? You need at least two things to have a relationship.
What was the relationship between the brothers?
a relationship between brothers should be sacred and good....
What is the relationship between CO2 and temp?
there is no relationship
Brifliy expline primary relation ship of banker and customer?
The relationship between a banker and a customer is called a contractual relationship.
What is the difference between the banker and its customer?
the banker is the banker while the customer is the customer
What is a primary relationship?
The relationship between a banker &customer is primarily that of debtor &creditor. On the basis of the existing state of account,respective position of the banker & customers will be determined.
Explain special relationship between banker and customer?
Bankers and customers work together to do financial transactions. A good banker will help a customer secure mortgages, balance accounts, and maintain a good relationship with the bank.
Definition of customer relationship with bank?
Banker customer relationship,is just a special contract where a person entrusts valuable items with another person with an intention that such items shall be retrieved on demand from the keeper by the person who so entrust. Thus the banker is the one who is entrustd with the above mentioned valuable items,whie the person who entrust the items with a view to retrieving it on demand is called the customer. The relationship is thus based on contract.It is based on certain terms and conditons.For instance,the customer has the right to collect his deposit on demand personally or by proxy.The banker too is under obligation to pay, so long the proxy is duly auhorised by the customer It has a semblance of creditor /debtor relationship.Thus the customer is the creditor who has the right of demand on the money from the banker.As long as the banker is keeping the customer items,the banker is indebted to the customer. The elationship is also fiducial.The terms and conditons governing the relationship should not be leaked to a third party,particularly by the banker.Also the items kept should not be released to a third party without due authorisation by the customer. Banker customer relationship,is just a special contract where a person entrusts valuable items with another person with an intention that such items shall be retrieved on demand from the keeper by the person who so entrust. Thus the banker is the one who is entrustd with the above mentioned valuable items,whie the person who entrust the items with a view to retrieving it on demand is called the customer. The relationship is thus based on contract.It is based on certain terms and conditons.For instance,the customer has the right to collect his deposit on demand personally or by proxy.The banker too is under obligation to pay, so long the proxy is duly auhorised by the customer It has a semblance of creditor /debtor relationship.Thus the customer is the creditor who has the right of demand on the money from the banker.As long as the banker is keeping the customer items,the banker is indebted to the customer. The relationship is also fiducial.The terms and conditons governing the relationship should not be leaked to a third party,particularly by the banker.Also the items kept should not be released to a third party without due authorisation by the customer.
Why banker-customer relationship is consider so important?
Because you want to be able to trust the banker, because they are taking care of your money by the way... Bankers want to be able to trust the customer with responsibilities with the money because, they DO care.
Difference between collecting banker n paying banker?
When a check is written on a bank account, the banker at that particular bank is the paying banker. They are responsible for paying the check when a customer presents it for payment. A collecting banker collects the checks for his customers from a paying banker.
What procedure does a banker follow to close the account of an undersizeable customer?
1. Banker issues due notice of intention to close customer's account and requests him to withdraw the balance amount. banker must give sufficient time to customer to make alternative arrangements. 2. If the customer still doesn't close his account, the banker issues another notice stating the last date by which the customer must close his account, otherwise it will be terminated by the banker himself. 3. If the customer defaults to close his account, the banker terminates the account himself, and sends the balance amount of money to the customer by a draft.
Meaning of paying banker?
the banker on whom a cheque is drawn or the banker who is required to pay the cheque drawn on him by a customer is called the paying banker or drawee bank
What is a banker's lien?
A banker's lien is a right of a bank to satisfy a customer's matured debt by seizing the customer's money or property within the bank's possession.
What type of relationship can exist between customer and a company?
non sexual relationship
What banking regulation act 1949 says about banker customer relationship?
In this regulation act they introduces a synonym for the term LOAN.From now on Indians call Donation
