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banker and customer relationship.docx - BANKING LAW...

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BANKING LAWASSIGNMENTRELATIONSHIP BETWEEN CUSTOMER AND BANKERSUBMITTED BYSAMRA NAZ(4288-FSL/LLB/F14)SUBMITTED TOMAM MADIHA MUHAMMADSECTION (A)INTRODUCTION:
The relationship between banker and his customer depends upon the nature of service providedby a banker. Accepting deposits and lending and or investing are the core banking business of thebank. In addition to its primary functions it deals with various customers by providing otherservices like safe custody services, safe deposit lockers and assisting the clients by collectingtheir cheques and other instruments as an agent and trustees for them. The definition of thebusiness of banking and a large number of activities permissible for banks are given in theBanking Regulation Act 1949.Definition of a Customer:There is no statutory definition of a customer, but banks appear to rely upon to recognize acustomer, a person to be known as a customer of the bank there must be either a current accountor any sort of deposit account like saving, term deposit, recurring deposit, a loan account or somesimilar relation.

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