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Principles & Practices of Banking

Unit – 12 : Banker-Customer Relationship

1. A firm consisting of not more than 10 partners or a company incorporated under Indian Companies Act 1956 can be a bank.

2. The relationship between customer and bank, when the customer deposits money with the bank, is a lender and a borrower and thus a creditor and a debtor.

3. The relationship between customer and bank, when the bank lends money to the customer, is a borrower and lender and thus a debtor and a creditor.

4. The relationship between customer and bank, when a customer deposits certain valuables, bonds, securities etc, with the bank for safe custody, is bailor-bailee and thus customer and trustee.

5. The relationship between customer and bank, when a bank performs the services of remittance, collection of cheques, bills, etc on behalf of the customers, is principal and agent.

6. The relationship between customer and bank, when a bank provides safe deposit lockers to the customer, who hires them on a lease basis, is lessee-lessor.

7. The relationship between customer and bank, when one party promises to save the other from loss caused to the other by the conduct of promisor, is indemnifier and indemnified (or indemnity holder).

8. Merchant bankers are financial intermediaries because they transfer capital from investor or bond subscriber (owner of capital) to government or corporate (user).

9. Lease financing means leasing out the capital purchase of assets to another company against monthly rents for asset’s consumption or use.

 

 


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