+3 votes
in Class 12 by kratos

Explain the relationship between the banker and its customers.

1 Answer

+4 votes
by kratos
 
Best answer

Relationship between bankers and customers :

The relation between a banker and customers falls under two broad categories, namely.

  1. General relationship

  2. Special relationship

1. General relationship

  • Primary Relationship (Debtor and creditor relationship).
  • Subsidiary Relationship (Trustee and beneficiary relationship.)
  • Agent and Principal Relationship

2. Special relationship

  • Obligation to honour cheques.
  • Obligation to maintain secrecy of accounts.
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