46🔹 Banker–Customer Relationship : One Liners (Hindi)

🔸 Basic Concepts

• Banker और Customer का संबंध बैंकिंग का मूल आधार है।
• Banker–Customer Relationship दो प्रकार की होती है – General और Special।
• Banker–Customer का Primary Relationship = Debtor–Creditor होता है।
• Customer की कोई स्पष्ट कानूनी परिभाषा नहीं है।
• RBI KYC के अनुसार Customer वह व्यक्ति है जो बैंक के साथ Financial Transaction करता है।

🔸 Debtor – Creditor

• ग्राहक जब पैसा जमा करता है तो Bank Debtor और Customer Creditor होता है।
• जमा राशि की वापसी के लिए मांग (Demand) आवश्यक है।
• जब बैंक ऋण देता है तो Bank Creditor और Customer Debtor होता है।
• DD/MT/TT जारी करने पर बैंक Payee का Debtor बनता है।

🔸 Trustee – Beneficiary

• विशेष उद्देश्य के लिए जमा धन पर बैंक Trustee बनता है।
• बिना निर्देश के जमा राशि पर Bank Trustee और Customer Beneficiary होता है।
• गलती से छोड़ी गई वस्तु में बैंक Trustee माना जाता है।
• Safe Custody में रखी वस्तुओं पर बैंक शुल्क लेता है।

🔸 Mortgagor – Mortgagee

• Mortgage की परिभाषा Transfer of Property Act, 1882 की धारा 58 में दी गई है।
• Mortgage में Ownership नहीं बल्कि Interest Transfer होता है।
• Customer = Mortgagor, Bank = Mortgagee।

🔸 Agent – Principal

• Cheque Collection, Bills Payment में बैंक Agent होता है।
• Standing Instructions में Customer Principal और Bank Agent होता है।
• Agent–Principal संबंध मृत्यु, दिवालियापन या पागलपन से समाप्त हो जाता है।

🔸 Lessor – Lessee (Locker)

• Locker सुविधा में बैंक Lessor और ग्राहक Lessee होता है।
• Locker की सामग्री की जिम्मेदारी बैंक की नहीं होती (जब तक लापरवाही न हो)।
• Lease की परिभाषा Transfer of Property Act, 1882 की धारा 105 में है।

🔸 Bailor – Bailee

• Safe Custody में ग्राहक Bailor और बैंक Bailee होता है।
• Bailment में वस्तु विशेष उद्देश्य और समय के लिए दी जाती है।

🔸 Pawnor – Pawnee (Pledge)

• Pledge में ग्राहक Pawnor और बैंक Pawnee होता है।
• Pledge की परिभाषा Indian Contract Act, 1872 की धारा 172 में है।
• Loan चुकाने तक संपत्ति बैंक के पास रहती है।

🔸 Advisor – Client

• Investment Advice देते समय बैंक Advisor और ग्राहक Client होता है।
• सलाह देते समय बैंक को सावधानी बरतनी चाहिए।

🔸 Custodian – Guarantor

• Demat Account में बैंक Custodian होता है।
• Bank Guarantee एक Contingent Contract है।
• Guarantee में बैंक ग्राहक की जगह जिम्मेदारी लेता है।

🔸 Indemnifier – Indemnity Holder

• Indemnity की परिभाषा Indian Contract Act, 1872 की धारा 124 में है।
• Duplicate DD, Lost FDR, Deceased Claim में Indemnity ली जाती है।
• Bank = Indemnity Holder, Customer = Indemnifier।

🔸 Termination of Banker–Customer Relationship

• मृत्यु, पागलपन, दिवालियापन से संबंध समाप्त हो जाता है।
• Account Closure या Liquidation से संबंध समाप्त होता है।
• Garnishee/Attachment Order से संबंध प्रभावित होता है।
• Arrest, Imprisonment या Migration से संबंध समाप्त नहीं होता।

🔸 Mandate

• Mandate एक Simple Unstamped Authority Letter है।
• Mandate से Account Overdraw की अनुमति नहीं होती।
• Joint Account में Mandate सभी द्वारा साइन होना चाहिए।
• Illiterate के मामले में Mandate Notary के सामने होना चाहिए।
• Mandate मृत्यु या रद्द करने पर समाप्त हो जाता है।

🔸 Power of Attorney (PoA)

• PoA एक लिखित कानूनी अधिकार है।
• General PoA में विस्तृत अधिकार होते हैं।
• Special PoA विशेष कार्य के लिए होता है।
• PoA की समाप्ति – मृत्यु, रद्दीकरण, कार्य पूर्ण होने पर।

🔸 TDS (Section 194A)

• Interest पर TDS धारा 194A के अंतर्गत लगता है।
• Senior Citizen के लिए TDS छूट सीमा ₹1,00,000 है।
• Super Senior Citizen (80+) के लिए कर छूट ₹5 लाख तक है।

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Like, Share & Subscribe - Truegyan BANKER-CUSTOMER RELATIONSHIP

» The relationship between banker and customer is of utmost importance. The relationship between a bank and its customers can be broadly categorized into -

General relationships and
Special relationships.

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Like, Share & Subscribe - Truegyan BANKER-CUSTOMER RELATIONSHIP

Definition of BANKER-CUSTOMER

» Banking Regulation Act'1949 (sec 5b) defines a business of banking, banking company.

Banking means (section 6 forms of business in which banking company may engage) (a) Accepts deposits from the public. (b) Allows withdrawals of deposits on-demand or by any other means.

Customer — no legal definition (not defined in any act)

» As per RBI KYC policy, a customer is a person who is engaged in a financial transaction of activity with a regulated entity and includes a person on whose behalf the person who is engaged in the transaction or activity, is acting.

**» Primary relationship between banker and customer is of debtor and creditor.

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Like, Share & Subscribe - Truegyan Legal Relationship

Transaction	Bank	Customer
Deposit in Bank	Debtor	Creditor
Purchase of Draft	Debtor	Creditor
Loan from Bank	Creditor	Debtor
Locker	Lessor (licensor)	Lessee (Licensee)
Safe custody	Bailee	Bailor
Mortgage of property	Mortgagee	Mortgagor
Payee of Draft	Trustee	Beneficiary
Money deposited but no instructions given for its disposal	Trustee	Beneficiary
Article left by mistake	Trustee	Beneficiary
Standing instruction	Agent	Principal
Collection of cheque	Agent	Principal
Shares given for sale	Agent	principal
Pledge of stocks	Pawnee (Pledgee)	Pawner (Pledger)
Hypothecation of stocks	Hypothecatee	hypothecator
Assignment	Assignee	Assigner

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Like, Share & Subscribe - Truegyan banker customer relationship 1. DEBTOR & CREDITOR

**» When a customer deposits money in his account the bank becomes a debtor of the customer and the customer a creditor.

**» For repayment demand is to be made. Banker is not required to pay voluntarily.

**» When bank lends money customer is borrower and bank is creditor, and the customer is the debtor.

**» While issuing Demand Draft, Mail / Telegraphic Transfer, the bank becomes a debtor as it owns money to the payee/ beneficiary.

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Like, Share & Subscribe - Truegyan banker customer relationship 2. TRUSTEE AND BENEFICIARY

TRUSTEE:

**"If customer deposits certain money for specific purpose, besides bailee bank is also trustee

**» Here the relationship between the bank and the customer is based on trust.

**» When the bank receives a valuable asset or document for security in exchange for the loan provided by the bank, the bank is considered to be a trustee and the customer is considered to be a beneficiary.

**» In the case of a trust, a banker customer relationship is a special contract.

**» Customers keep certain valuables or securities with the bank for safekeeping or deposits the banker in such cases acts as a trustee.

**» Banks charge fees for safekeeping valuables.

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Like, Share & Subscribe - Truegyan banker customer relationship 3. MORTGAGOR & MORTGAGEE

» As per section 58 of Transfer of Property Act 1882, the mortgage is the transfer of an interest in specific immovable property to secure the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.

✓ **The mortgagor only parts with the interest in the property and not the ownership.

✓ The transferor of interest in the property is called a mortgagor (customer) and the transferee is called a mortgagee(Banker).

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Like, Share & Subscribe - Truegyan banker customer relationship 4. AGENT & PRINCIPAL

» Sec. 182 of 'The Indian Contract Act, 1872' defines "an agent" as a person employed to do any act for another or to represent another in dealings with third persons. The person for whom such act is done or whom is so represented is called "the Principal".

✓ **Banks collect cheques, bills, and makes payment to various authorities' viz., rent, telephone bills, insurance premium, etc., on behalf of customers.

✓ **Banks also abides by the standing instructions given by their customers. In all such cases bank acts as an agent of its customer, and charges for these services.

✓ **Terminates on the death, insolvency and lunacy of customer.

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Like, Share & Subscribe - Truegyan banker customer relationship 5. LESSOR AND LESSEE

» Sec.105 of 'Transfer of Property Act 1882' defines lease, Lessor, lessee, premium, and rent.

Definition of Lessor, lessee, premium, and rent:

I. Lessor: the person who transfers the immovable property. II. Lessee: the person to whom the property is transferred. III. Premium: to obtain a lease of an immovable property a price called "premium" is paid. IV. Rent: the service or money that is rendered is known as rent.

**» In case of lockers bank is lessor and customer lessee. Bank is not responsible for any loss arises due to non negligence of bank.

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Like, Share & Subscribe - Truegyan banker customer relationship 6. BAILOR AND BAILEE

**» A bailment is a contract where the customer provides a valuable asset or any specific good for a specific period of time to the banker.

a) The customer who entrusts the asset to the banker is a bailor. b) The banker to whom the asset is entrusted for a specific time is called a bailee.

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Like, Share & Subscribe - Truegyan banker customer relationship 7. PAWNOR AND PAWNEE

» The relationship between customer and banker can be that of Pledger and Pledgee. This happens when the customer pledges (promises) certain assets or security with the bank to get a loan. In this case, the customer becomes the Pledger or Pawnor, and the bank becomes the Pledgee or Pawnee.

a) Indian Contract Act, 1872 section 172: The bailment of goods as security for payment of a debt or performance of a promise is called "pledge". The bailor is in this case called the "pawnor". The bailee is called "pawnee".

b) Under this agreement, the assets or security will remain with the bank until a customer repays the loan.

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Like, Share & Subscribe - Truegyan banker customer relationship 8. ADVISOR AND CLIENT

**» The banker acts as an advisor when a customer invests in securities. Here the customer is the client. The banker should be cautious while giving advice officially or unofficially.

9. CUSTODIAN & GUARANTOR

AS A CUSTODIAN:

**» A custodian is a person who acts as a caretaker of something. Banks take legal responsibility for a customer's securities. While opening a DeMat account bank becomes a custodian.

AS A GUARANTOR:

**» Banks give guarantees on behalf of their customers and enter into their shoes. A guarantee is a contingent contract. As per sec 31, of Indian contract Act guarantee is a "contingent contract". A contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen

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Like, Share & Subscribe - Truegyan banker customer relationship 10. INDEMNITY HOLDER AND INDEMNIFIER

» As per Section 124 of the Indian Contract Act 1872, the definition of Indemnity is as follows. 'A contract by which one party promises to save the other from loss caused to him by the contract of the promisor himself, or by the conduct of any other person, is called a "contract of indemnity".

✓ The dictionary meaning of the word Indemnity means 'security or protection against a loss or other financial burden'.

✓ In the case of banking, the relationship happens in transactions of issue duplicate demand draft, TDR, deceased account payment, etc.

✓ In that case, the indemnifier will compensate any loss arising from the wrong or excess payment. In these cases, the bank is an Indemnity Holder (Promisee) and the customer is Indemnifier (Promisor).

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Like, Share & Subscribe - Truegyan TERMINATION OF THE RELATIONSHIP BETWEEN A BANKER AND A CUSTOMER

The relationship between a bank and a customer ceases on:

(a) The death, insolvency, lunacy of the customer; (b) The customer closing the account i.e. Voluntary termination; (c) Liquidation of the company; (d) The closing of the account by the bank after giving due notice; (e) The completion of the contract or the specific transaction; (f) On receiving Garnishee/ attachment orders.

RELATIONSHIP NOT AFFECTED:

a) Arrest of the customer. b) Imprisonment of the customer. c) Migration to some other country.

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Like, Share & Subscribe - Truegyan MANDATE LETTERS:

MANDATE LETTERS:

» Mandate is simple letter of authority given by account holder to the bank to allow a certain person to operate his account on his behalf, have been delegated by the customer (the mandator) to a particular person (the mandatory). Such letters of mandate do not attract stamp duty.

✓ Does not allow to overdraw the account unless specifically permitted. ✓ In joint accounts mandate must be signed by all. ✓ In case of illiterate mandate must be signed before notary. ✓ It is neither stamped nor witnessed.

TERMINATION OF MANDATE:

**» Death, insolvency, insanity of account holder. **» Revocation by account holder. **» Refusal by mandate holder.

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Like, Share & Subscribe - Truegyan POWER OF ATTORNEY

**» Power of Attorney is an authority given by a written formal instrument whereby one person termed the donor or principal authorizes another person termed the done, attorney, or agent to act on his behalf.

**» Dealt under the Indian contract act.

Types of Power of Attorney: Power of Attorney can be of mainly two types;

1. GENERAL OR UNIVERSAL POWER OF ATTORNEY:

A person can give another person a complete general right or power to act lawfully concerning his property or bank accounts or tax payments, or registration work or to sue a third party, etc. It is commonly termed as General Power of Attorney. This type of power is very wide and has a lot of risks if the attorney is not a trustworthy person.

2. SPECIAL OR LIMITED POWER OF ATTORNEY:

A special power of attorney is to be made by a person when any particular task or act is to be done. Once the particular act is completed the special power of attorney comes to an end.

When is a Power of Attorney Terminated?

When the principal dies /principal becomes incapacitated (only in the case of a durable power of attorney)
When the principal has revoked the power of attorney
When the purpose of the power of attorney has been accomplished ✓ When the agent dies, becomes incapacitated, or resigns.

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Like, Share & Subscribe - Truegyan TDS

✓ When no tax is to be deducted : - As per section 194A of IT act

» If aggregate amount of interest credited or paid to the payee in respect of time deposit during the financial year does not exceeds the following limit :

Threshold limit if payee is	General public	Senior Citizen
Banking company	Rs 50000	Rs 100000
Post office
Taxable income	2.5 lakh	3 lakh

✓ 5 lakh for super senior citizens (Age 80 year above)

Tax on Income : - individuals earning up to Rs.12 lakhs will have no tax liability due to the increased rebate of Rs.60,000. For salaried individuals, the tax liability will be zero for incomes up to Rs.12.75 lakhs due to the Rs.75,000 standard deduction.

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