Customers are those who avail a service of any goods and services provided by the manufacturer or service provider with due consideration of money. In the same way the moment an individual opens an account with the banker, then he becomes a customer
Assignment
02 Customer Training_Boart
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A.M. No. 09-6-8-SC
Cases on Employer-Employee Relationship
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02 Banker Customer Relationship Caselets : Who is a Banker Banker is defined under Section 5(b) of The Banking Regulation Act. What are the essential characteristics of a banker to satisfy this definition?
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i ii iii i 2. !nder "hich of the follo"ing situations# the $erson "ill not be treated as a custo%er of the State Bank of &ndia: Tick 'ark
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S* +ali% +ali%an an has has been been %ain %aintai tainin ning g a sain saings gs bank bank account account "ith "ith State State Bank Bank of &ndia for the last t"o "eeks. ii Sridhar Sridharan an has a fi,ed fi,ed de$osi de$ositt recei$ recei$tt for Rs.5# Rs.5#----- that that he has been been %ade %ade only three days ago. iii init init /ho$ra /ho$ra has has $urchased $urchased de%and drafts drafts for eleen ti%es# ti%es# has got 00s 00s issued issued fie ti%es# in the last t"o years fro% the sa%e sa%e branch of Bank on $aying cash . i Se"a Singh has been holding holding 5-- shares of SB& for the last 15 years. years. Ra2ind Ra2inder er *u%r *u%raa signed signed the the account account o$eni o$ening ng for% for% "ith "ith sati satisfa sfacto ctory ry intro introduc ductio tion n and other for%alities and de$osited de$osited a other bank che3ue of Rs.45#--- in his faour for collection as initial a%ount for the the account on 45.-.41 to be sent for clearing . &s he a bank custo%er on 45.-.41? 3.
Which statements statements of the following following are correct correct and why about !C "orms# a. *6/ *6/ guid guidel elin ines es are are iss issued ued by $%B& for Banks in &ndia. b. The $ur$ose is to get legal protection for the collecting banker us 474 of 8& Act. c. *no"ing *no"ing the custo%e custo%err %eans "hether "hether he is the the sa%e sa%e $erson that he clai%s clai%s to be. d. The introducer introducer has a cri%ina cri%inall liability liability in case the custo%er custo%er introduc introduced ed by hi% co%%its co%%its any fraud or "rong doing "ith bank or other custo%ers thru his account. e. The introducer introducer has only only a ciil financ financial ial liabili liability ty in case case the custo%er custo%er introd introduced uced by hi% hi% co%%its any fraud or "rong doing "ith bank or other custo%er f. The introducer introducer has has no financial financial or other other liabili liability ty to the bank bank or third third $arties $arties unless unless he is a $arty to the fraudulent transactions g. The *6/ *6/ nor%s nor%s are to safe safe guard guard the country country fro% laundering laundering of drug %oney %oney or other other illegal %oney or to detect sus$icious disru$tie actiities. h. The *6/ *6/ nor%s nor%s also also hel$ hel$ in in checkin checking g the gro"t gro"th h of Benami transactions and for %onitoring large alue transactions to aoid $ay%ent of ta,es '. (s part of !C) !C) banks banks insist on document documentary ary proof proof for identity identity and and residence. residence. *ick *ick mark the docu%ents acce$table as 9roof of identity: 9roof of residence:
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i. ii. iii. i. . i. ii. iii. i,. ,. ,i.
A alid 0riing icence An ;lection &0 /ard A Ration /ard "ith $hoto A alid 9ass$ort A 9A8 /ard A /redit /ard "ith 9hoto Allot%ent etter Rent Agree%ent &/ 9olicy +or ast T"o 6ears /redit card state%ent Tele$hone Bill ;lectricity Bill ;%$loyer certificate&0
i. 0riing icence ii. ;lection &0 /ard iii. Ration /ard "ith $hoto i. A alid $ass$ort . 9A8 /ard i. A /redit /ard "ith 9hoto ii. Allot%ent etter Rent Agree%ent iii..&/ 9olicy +or ast T"o 6ears i,. /redit card state%ent ,. Tele$hone Bill ;lectricity Bill ,i. ;%$loyer certificate&0
+. Comment which one of the following is correct and why,# a. Banks are re3uired to issue de%and drafts# for Rs.5-#--- and aboe only by debit to custo%ers< accounts or against che3ues and not against cash.
b. The re3uire%ent for furnishing 9A8 stands increased unifor%ly to Rs.5-#---= or aboe $er transaction for all cash de$osits in accounts. c.
The banks are re3uired to kee$ a close "atch and record of cash "ithdra"als and de$osits for Rs.4- lakhs and aboe in accounts in a se$arate register as "ell as re$ort transactions of sus$icious nature "ith full details in fortnightly state%ents to their controlling offices.
-. $tate the nature of relationship between banker and a customer in the following types of dealings with the bank# $r.
"ature o f account
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A /usto%er has o$ened a > no frills saings bank account "ith @ero balance "ith the bank. A /usto%er has a locker facility "ith the bank and has de$osited Rs.4-#--- in fi,ed de$osit to aail this locker facility. A custo%er has de$osited an outstation che3ue "ith the bank for collection and credit to his account "ith the bank. /usto%er has gien so%e docu%ent for safe custody to bank
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Role of Banker
Role of Customer
i/e your obser/ations# 9ada% Singh Rana had an oerdraft "ith 0+/ Bank at 8oida branch and a Saings bank balance at 8e" 0elhi branch. n non $ay%ent of oerdraft balance of 8oida Branch een after e,$iry of notice# his SB de$osit balance at 8e" 0elhi branch "as ad2usted to"ards oe rdraft a%ount. Whether bank is 2ustified in this action and "h y?
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At t"o different branches of 0+/ Bank# balances in accounts "ere as under : Branch A Rs. 5---- Branch B Rs.1----. /usto%er issued a che3ue for Rs.54--- on branch A for adance $ay%ent of $urchase of $ro$erty "orth 45 lakh. This che3ue "as dishonored by the branch ignoring the fact that he had enough balance at the other branch. e lost his re$utation and could not buy $ro$erty and clai%s Rs.45 lakh for this loss and another 4- lakh for re$utation loss. 0iscuss.
. $am issued a cheue for Rs. 1+000 on 12.0.12 . e had Rs.4C#5-- balance in SB account and had de$osited che3ues for Rs.1-#--- on the %orning of -.-.41 in this account that had not been returned un $aid. But the che3ue for Rs.45--- "as dishonoured by the bank due to oersight of the e,ecutie "ho credited the a%ount of che3ues to so%e other account. &s bank liable to custo%er?
10. Ram apoor had fi4ed deposit of Rs.20)000 with the bank branch . e issued a che3ue on his saings bank account for Rs.5-#--- that had a balance of Rs.C#---. at the sa%e branch. The che3ue "as dishonored by the bank. 0iscuss rights and liabilities of both the $arties.
11. Balde/ Ra5) a reputed businessman had en5oyed o/erdraft facility up to Rs.20)000 from ti%e to ti%e for the last four years "ith SB&# 8oida branch "ithout any loan agree%ent in "riting due to his re$utation and relations. The ne" branch %anager returned a che3ue for Rs.5---- as the credit balance in the account "as Rs..C5---. n co%$laint by the custo%er# the branch %anger re$lied that there "as no contract in "riting# so bank is not liable for conse3uences for returning the che3ue. 0iscuss the liability of the bank.
12. (nil (mbani got a compensation of Rs.10 lakh from the court for wrongful dishonour of a che3ue for Rs.4#15#--- dra"n by hi%. Would there be any difference in co%$ensation if the che3ue a%ount "ould hae been Rs. 415- only ?
13. Will dishonor of cheues by the bank be 5ustified and why in the following situations ? i. /he3ue dated 4.-.41 $resented for $ay%ent on 4D.-.41
ii. /he3ue dated 45.-7.41 $resented for $ay%ent on 4D.-.41 1'. 6iscuss whether the banker is lawfully 5ustified in disclosing the customers information# i. The state%ent of account is gien to the &nco%e Ta, &ns$ector on his instructions.
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ii.
The Sub ins$ector fro% a local $olice station is sho"n the account details for three years of a $erson under cri%inal inestigation.
iii.
The credit infor%ation is $assed on to another bank and based on this the other bank re2ects his loan a$$lication.
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The balance in account is disclosed to the "ife of the de$ositor "ithout his consent.
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The infor%ation of account and facilities is disclosed to the guarantor before signing the guarantee.
1+. Which one of the following is correct in respect of right of 7ien# a. A scooter %echanic can hold the scooter re$aired by hi% if the re$air charges hae not been $aid. &t is not a case of $articular lien.
b. &f debt is not $aid# Bank can sell the securities under lien "ithout giing a reasonable notice for sale to the debtor.
c. Bank can e,ercise lien for debt in single na%e on fi,ed de$osit in 2oint na%es d. Bank has a lien on safe custody articles like shares or bonds# or %oney tendered for re%ittance to so%e other $erson or securities held in trust or securities left "ith bankers by %istake.
1-. Which ones of the following are correct in respect of right of set off#
a. E has to $ay oerdraft of Rs.5-#--- but has defaulted. Bank can recoer this a%ount fro% a 2oint account in the na%e of E and his "ife 6.
b.
E ;nter$rises (E is the $ro$rietor of this fir% ) o"es Rs.4---- to bank. There is a credit balance of Rs.41#--- in SB account in $ersonal na%e of E. Bank can e,ercise right of set off.
c. 'oney o"ed by father can be recoered fro% the account of his %inor son under guardian shi$ of the father.
