BANKING LAW AND PRACTICE

BANKING LAW AND PRACTICE

UNIT - I
Banker-customer relationship : business of “Banking�- permitted activities of commercial banks in India, definition and meaning of “Banker and Customer� general and special features of the relationship, “Bankers opinions� Indemnities granted by and to bankers.
UNIT - II
Deposit accounts : opening, operations and closures of (a) fixed deposit account (b) recurring deposit account (c) savings account (d) Current Account.
Mandate and Power of Attorney - Nomination facility.
Special types of customers : minor, married women, lunatic person, illiterate person, customer’s attorney, joint account holders, partnership firm, joint Hindu family firm, joint stock company, un-incorporated associations, trusts.
UNIT - III
Negotiable Instruments (NIs) : definitions and features of NIs, Definition, features and drawing of : cheque, bills of exchange, promissory note, demand draft and other NIs, rights and duties of drawer, drawee and payee, holder and holder in due course, holder for value, endorsement, crossings.
Payments of Cheques : precautions by paying banker, duties of paying banker, statutory protection, material alternations, forged cheques, payment by mistake, cases where banker must refuse payment, garnishee order, attachment of accounts by tax authorities.
UNIT - IV
Collection of Cheque : collecting banker as holder for value and agent of customer, duties and liabilities of collecting banker, statutory protection.
Bank services : remittances, safe custody, safe deposit vault, merchant banking, hire purchase, leasing, factoring, credit cards, gift cheques, mobile banks and extension counters, letters of credit, purchase and sale of securities, securitisation, guarantees.

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