TAILIEUCHUNG - Relationship between Banker and Customer

A key consideration for policymakers, then, is whether the trade-off between efficiency and financial stability argues for policies that reflect a preference for certain cross-border banking structures. This paper examines the relative advantages and disadvantages of different organizational structures for cross-border banking groups both from the point of view of the financial groups and of the home/host authorities. It concludes that given the diversity of business lines and the varying objectives and stages of financial development of different countries, there is no one obvious structure that is best suited in all cases for cross- border expansion—one size does not fit all. | Relationship between Banker and 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 transactional relationship. Bank s business depends much on the strong bondage with the customer. Trust plays an important role in building healthy relationship between a banker and customer. Definition of a BANKER The Banking Regulations Act B R Act 1949 does not define the term banker but defines what banking is As per b of the B R Act Banking means accepting for the purpose of lending or investment of deposits of money from the public repayable on demand or otherwise and withdrawable by cheque draft order or otherwise. As per Sec. 3 of the Indian Negotiable Instruments Act 1881 the word banker includes any person acting as banker and any post office savings bank . According to Sec. 2 of the Bill of Exchange Act 1882 banker includes a body of persons whether incorporated or not who carry on the business of banking. c of BR Act defines banking company as a company that transacts the business of banking in India. 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 a Accepts deposits from public. b Lends or c Invests the money so collected by way of deposits. d Allows withdrawals of deposits on demand or by any other means. Accepting deposits from the public means that a bank accepts deposits from anyone who offers money for the purpose. Unless a person has an account with the bank it does not accept deposit. For depositing or borrowing money there has to be an account relationship with the bank. A bank can refuse to open an account for undesirable persons. It is banks right to open an account. Reserve Bank of India has stipulated certain norms Know Your Customer KYC guidelines for .

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