Volume : VI, Issue : V, May - 2017

MODERN BANKING MANAGEMENT IN INDIA

Prof. R. Abbaiah, Dr. Morusu Siva Sankar, Dr. C. Venkateswarlu

Abstract :

 Banker has an implied right to charge for services rendered and sold to a customer. Bank charges interest on amount advanced, processing charges for the advance, charges for non–utilization of credit facilities sanctioned, charges commission, exchange, incidental charges etc. depending on the terms and conditions of advance banks charge interest at monthly, quarterly or semi–annually or annually. Banks charge customers if the balance in deposit account falls below the prescribed amount. Usually the bank informs such charges to the customer by various means. Right to close the account of undesirable customers: Bankers have the right to close the accounts of the customer who is found undesirable in maintaining balance in the account and due to which frequent bouncing or dishonouring of cheques takes place. Due to this, the reputation of the banker is getting affected. Thus, the banker, after giving due notification to the customer can close his account. In case of death, insolvency, lunacy of customers or dissolution of firms or winding up of companies, the account will be closed by the banker. Liabilities of the Banker Bankers cannot be held liable when they disclose the customers’ account with the consent of the customers. But, while disclosing the account, the banker should do so in a discrete manner without causing any prejudice to the credit worthiness of the customer. 

Keywords :

Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Prof.R.ABBAIAH, Dr. MORUSU SIVA SANKAR, Dr. C. VENKATESWARLU, MODERN BANKING MANAGEMENT IN INDIA, INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCH : VOLUME-6 | Issue‾5 | May‾2017

Number of Downloads : 622

References :