Podcast
Questions and Answers
What is the primary function of a collecting banker?
What is the primary function of a collecting banker?
Which of the following is NOT a precaution that a banker should take when handling payments?
Which of the following is NOT a precaution that a banker should take when handling payments?
What does a CIBIL score primarily assess?
What does a CIBIL score primarily assess?
Which type of loan is secured by collateral?
Which type of loan is secured by collateral?
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What is one major benefit of CASA deposits for banks?
What is one major benefit of CASA deposits for banks?
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Which of the following describes a hidden charge in the context of loans?
Which of the following describes a hidden charge in the context of loans?
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What does the term 'wrongful dishonor of cheque' refer to?
What does the term 'wrongful dishonor of cheque' refer to?
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What does annualized percentage rate (APR) refer to?
What does annualized percentage rate (APR) refer to?
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What is the primary purpose of understanding the Banker's Customer relationship?
What is the primary purpose of understanding the Banker's Customer relationship?
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Which of the following is NOT a right of the banker in the customer relationship?
Which of the following is NOT a right of the banker in the customer relationship?
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What aspect of digital banking is highlighted in the provided content?
What aspect of digital banking is highlighted in the provided content?
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What is a key component of the BCBF model for financial inclusion?
What is a key component of the BCBF model for financial inclusion?
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Which of these is an essential aspect of digital banking mentioned in the content?
Which of these is an essential aspect of digital banking mentioned in the content?
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What rights do bankers hold concerning a customer's cheque?
What rights do bankers hold concerning a customer's cheque?
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Why is financial literacy important in the context of the BCBF model?
Why is financial literacy important in the context of the BCBF model?
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Which type of digital banking service is explicitly mentioned in the content?
Which type of digital banking service is explicitly mentioned in the content?
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Study Notes
Banker and Customer Relationship
- Defines what a banker is and their relationship with their customers
- Discusses the legal relationship between a banker and customer
- Covers situations where a banker may act as a borrower
- Explains the difference between debt owed to a banker versus an ordinary commercial debt
- Outlines the rights of a banker, including lien and set-off rights
- Explains the right of bankers to charge interest and commission
- Emphasizes the obligation of bankers to maintain the secrecy of customer accounts
- Covers procedures for closing bank accounts, stopping payments, and garnishee orders
Digital Banking
- Explains the meaning of digital banking
- Defines the key elements of digital banking
- Examines the state of digital banking in India
- Discusses various cyber security threats and frauds
- Addresses different types of Electronic Fund Transfer Systems
- Covers Point of Sale systems (POS) and digital wallets
- Provides information on kiosks and the National Payments Corporation of India (NPCI)
- Discusses the history and products of NPCI, including UPI, NACH, and BHIM
Financial Inclusion Through the BCBF model
- Emphasizes the need for financial literacy and inclusion
- Introduces the Bank Correspondent (BC)/Business Facilitator (BF) model
- Discusses how the BCBF model promotes financial inclusion
- Explains the scope of BC/BF activities, including overdraft facilities, debit cards, and insurance
- Highlights the role of BCs/BFs in financial inclusion
Payments and Collection of Customer Cheques
- Discusses precautions for handling payments
- Explains payments in due course and the situations where a banker can refuse payment
- Covers the concept of wrongful dishonor of a cheque
- Explains the process of countermanding payments of cheques and drafts
- Discusses the protection afforded to paying bankers
- Explores the banker's role as a holder for value
- Analyzes the responsibilities of a collecting banker and their customers
- Explains the duties of a collecting banker and the protection given to them
Loan and Advances
- Defines loan and advance
- Explores the principles of sound lending
- Discusses various forms of advances
- Differentiates secured and unsecured loans
- Covers hidden charges and the Annualized Percentage Rate (APR)
- Introduces Key Fact Statements (KFSs) and the CIBIL Score
- Explains CIBIL Score’s importance to banks and its role in loan approval
- Provides guidance on reading a CIBIL report, understanding good and bad CIBIL scores, and different CIBIL Score series
CASA Deposits
- Defines Current Account (CA) and Savings Account (SA) deposits – CASA deposits
- Explains the importance of CASA deposits to banks
- Discusses transaction services and channels offered by banks to CASA account holders
- Covers the benefits of CASA deposits for customers
- Provides insights into the features of CASA deposits
Practical Problems
- This section involves practical problem-solving exercises related to the aforementioned topics.
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Description
This quiz covers the essential aspects of the relationship between bankers and customers, including legal definitions, rights, and obligations. Additionally, it explores the realm of digital banking, discussing its key features, security threats, and the latest developments in India. Test your understanding of these critical banking concepts.
