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What topic is discussed in chapter 10 of the manual?
What is the primary responsibility of a bank?
What kind of relationship exists between a bank and its clients?
What is a bank's role in the economy?
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What is the significance of commercial banks in economic development?
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How many chapters does the manual have?
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What is the topic of chapter 3 of the manual?
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What is discussed in chapter 5 of the manual?
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What is the topic of chapter 2 of the manual?
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What is included in the manual to facilitate learning?
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What is the year of the Negotiable Instrument Act?
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What is the year of the Money Laundering Prevention Act?
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What is the year of the Anti-terrorism Act?
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What is the name of the Act related to bankers' books evidence?
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What chapter is related to Fraud, Forgeries, and Malpractices in banking?
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What is the primary legislation that governs banking companies in Bangladesh?
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Which Act is relevant to contracts between banks and their customers?
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Which chapter of the study material covers laws and regulations related to general banking?
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What is the year of the Companies Act, as mentioned in the study material?
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Which Act is relevant to partnerships between banks and their customers?
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What is the name of the act that governs Trusts, Trustees, Trust deed and other relevant issues?
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Who is the person who reposes or declares confidence in a trust?
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What is the instrument by which a trust is created?
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What is the beneficial interest of the beneficiary in a trust?
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What should a banker do when opening an account in the names of persons in their capacity as trustees?
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When can a bank terminate its relationship with a customer?
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What is the ultimate objective of relationship banking?
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What is the significance of customer service in the banking industry?
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What happens when a bank receives a garnishee order?
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What is emphasized in relationship banking?
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What is the primary purpose of deposit mobilization in banking?
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What is the main source of funds for banks?
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Why are banks diversifying their sources of funds?
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What is the purpose of opening branches across the country?
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What is customer complaint management?
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What is the contractual relationship between a banker and a customer?
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What is the purpose of customer due diligence for a bank?
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How can a banker-customer relationship be terminated?
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What is relationship banking?
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What is the primary obligation of a customer to the bank?
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What is the main focus of chapter 4 of the manual?
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What is the primary objective of the manual?
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How many chapters are there in the manual?
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What is discussed in chapter 3 of the manual?
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What is the main focus of chapter 6 of the manual?
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What is the main purpose of the Money Laundering Prevention Act, 2012?
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What is the relevance of the Anti-terrorism Act, 2009?
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What is the purpose of the Negotiable Instrument Act, 1881?
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What is the relevance of the Bankers' Books Evidence Act, 1891?
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What is the focus of Chapter 10 of the study material?
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Which Act is relevant to contracts between a customer and the bank?
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What is discussed in chapter 10 of the manual?
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Which Act is relevant to partnerships between banks and their customers?
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What is the primary legislation that governs banking companies in Bangladesh?
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Which chapter of the manual covers laws and regulations related to general banking?
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What is the primary purpose of examining the Trust Deed by the banker?
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What is the role of the person who reposes or declares confidence in a trust?
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What is the trust property or trust money in a trust?
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What is the beneficial interest of the beneficiary in a trust?
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What is the relevance of the Trust Act, 1882 in the context of trusts?
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What is the significance of customer service in the banking industry?
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What is the primary objective of relationship banking?
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What happens when a bank receives a garnishee order?
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When can a banker-customer relationship be terminated?
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What is the focus of relationship banking?
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What is the primary source of funds for banks?
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What is the main objective of banks in deposit mobilization?
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Why are banks opening branches across the country?
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What is the significance of customer complaint management in banking?
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What is the role of deposits in banking activity?
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What is the primary objective of relationship banking?
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What is the significance of diversifying sources of funds in banking?
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What is the main benefit of deposit mobilization for banks?
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What is the primary goal of banks in managing deposits?
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What is the significance of customer service in banking?
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What is the primary focus of Chapter 10 of the manual?
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What is the significance of commercial banks in economic development?
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What is the nature of the relationship between a bank and its client?
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What is the primary responsibility of a bank?
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What is a bank, fundamentally?
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What is the primary obligation of a banker in case of a dispute over a customer's cheque?
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What is the primary purpose of customer due diligence for banks?
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What is the consequence of a banker's failure to maintain proper records of customer transactions?
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What is the importance of maintaining secrecy of the customer's account?
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Why is it essential for banks to maintain a good relationship with their customers?
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What is the primary challenge that banks face in general banking operations?
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Why is it crucial for banks to strengthen their ability to manage different areas of general banking?
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What is the primary objective of the legislative measures taken to address the challenges of malpractices and fraudulent activities in banking?
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What is the significance of relevant legislative measures and stringent compliance requirements in general banking?
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What is the primary concern for banks in the context of general banking operations?
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What is the primary objective of the CDD obligations on banks?
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What factors should risk-sensitive CDD measures be based on?
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What is the purpose of Enhanced Due Diligence (EDD) measures?
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What is the relevance of the MLPA, 2012 in the context of CDD obligations?
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What should banks be able to demonstrate to their supervisory authority?
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What happens when a bank receives a garnishee order?
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What is the implied right of a banker?
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What is the obligation of a banker regarding customer's cheques?
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What is the right of a customer regarding debt appropriation?
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What is the consequence of a bank receiving a garnishee order on a customer's account?
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What is the primary legislation governing banking companies in Bangladesh?
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Which Act is relevant to the opening of bank accounts in Bangladesh?
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What is the primary focus of the Banking Companies Act, 1991 in Bangladesh?
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Which Act is relevant to partnerships between banks and their customers in Bangladesh?
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What is the primary legislation governing banking operations in Bangladesh?
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What is the primary reason behind financial scams, financial frauds, and forgeries in the financial sector?
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What is the purpose of displaying contact details of officials in the prominent place of the branches?
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What is the primary challenge faced by banks in the context of customer relationship?
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What is the primary objective of customer awareness programs in banking?
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What is the significance of displaying customers' rights and obligations through various communication channels?
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What is the primary responsibility of a bank in relation to customer deposits?
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What is the nature of the relationship between a bank and its clients?
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What is the main focus of Chapter 10 of the study material?
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What is the primary concern for banks in the context of general banking operations?
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What is the primary objective of the legislative measures taken to address the challenges of malpractices and fraudulent activities in banking?
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What is the significance of relevant legislative measures and stringent compliance requirements in general banking?
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What is the primary legislation that governs banking companies in Bangladesh?
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What is the relevance of the Bankers' Books Evidence Act, 1891?
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What is the primary objective of the Anti-terrorism Act, 2009?
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What is the significance of the Money Laundering Prevention Act, 2012?
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Study Notes
Banking Overview
- Banks primarily serve as financial intermediaries that accept deposits and provide loans.
- Relationship between banks and clients is often based on trust, and it evolves through interactions and services provided.
- Banks play a crucial role in the economy by facilitating transactions, providing credit, and mobilizing savings for investment.
Economic Significance
- Commercial banks are vital for economic development as they mobilize funds, provide loans for businesses, and support job creation.
- Banks diversify their sources of funds to minimize risks and increase stability.
Legal Framework
- The Negotiable Instrument Act was enacted in 1881, governing negotiable instruments like cheques and promissory notes.
- The Money Laundering Prevention Act was introduced in 2012 to prevent financial crimes.
- The Anti-terrorism Act came into effect in 2009, addressing financing linked to terrorism.
- The Bankers’ Books Evidence Act dates back to 1891, providing legal credibility to bank records.
- The Trust Act of 1882 regulates trusts and fiduciaries to protect beneficiaries’ rights.
Major Manual Chapters
- The manual consists of several chapters, each addressing specific banking topics; details of their contents can enhance understanding of banking operations.
- Chapter 2 discusses foundational aspects of banking.
- Chapter 3 focuses on relationship banking and the dynamics between banks and customers.
- Chapter 4 delves into laws and regulations that govern banking practices, aiming for compliance.
- Chapter 5 examines types of banking services and products.
- Chapter 6 covers the Money Laundering Prevention Act’s implications on banks.
- Chapter 10 highlights regulations concerning fraud, forgeries, and banking malpractices.
Relationship Banking
- Relationship banking emphasizes long-term interactions, customer loyalty, and personalized services.
- The ultimate objective is customer satisfaction and retention, leading to mutual benefits.
- Effective customer service is critical for maintaining strong banking relationships.
- Customer complaint management is essential for service improvement and customer trust.
Obligations and Rights
- A bank must maintain secrecy regarding a customer's account to uphold trust.
- Banks have a primary obligation to perform due diligence, ensuring compliance with regulatory standards.
- In disputes over a customer's cheque, a banker must act according to established procedures to protect client interests.
Risk Management
- Customer due diligence (CDD) is essential for identifying and mitigating risks associated with clients.
- Enhanced Due Diligence (EDD) measures are implemented for high-risk clients, focusing on thorough background checks.
- Compliance with CDD obligations demonstrates a bank's commitment to regulatory requirements and customer trust.
Closing Relations and Termination
- A bank may terminate its relationship with a customer for reasons such as fraud or persistent account mismanagement.
- The process requires careful consideration of contractual agreements and legal implications.
Banking Operations
- Deposit mobilization is a key objective that allows banks to expand their lending capacity.
- Banks typically use deposits as their primary source of funds, critical for operational viability.
- Maintaining a portfolio of diverse funding sources strengthens a bank’s financial resilience.
Conclusion
- The banking industry operates under a framework of legal obligations aimed at protecting clients and maintaining market integrity.
- Understanding the interplay between banking laws, customer relationships, and risk management is crucial for successful banking operations.
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Test your knowledge on various aspects of banking operations, including cash and vault management, risk management, laws and regulations, fraud, and leadership and managerial skills.