write a note on collection banker and two aspects or stages of collection banker
Answers
Answer:
Collecting Banker is the one who accumulates the proceeds of a cheque for the customer. Even though a banker gathers the proceeds of a cheque for the customer solely as a matter of service, hitherto the Negotiable Instruments Act, 1881 ultimately inflicts obligation, statutory in nature. This is evident from Section 126 of Negotiable Instruments Act which presents that a cheque having a "general crossing" shall not be paid to anyone other than banker & a cheque which is "specially crossed" shall not be paid to a person other than the banker to whom it is crossed. Therefore, a paying banker must pay a crossed cheque only to a banker thus signifying that it should be collected by another banker.
Explanation:
Consumers are those who with due consideration of money use a service of any goods and services provided by the manufacturer or service provider. Similarly, the moment a person opens an account with the banker, he becomes the bank’s client.
There is also a special relationship between customer and banker, with specific duties and obligations. Given the different services offered to its customers by a banker these days, the relationship between a banker and customer could be of different types. For example, if a client leaves certain articles in safe custody with the bank, the relationship is one of the bailor and bailee.
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