📝 One-liners · 52 cards
Banker–Customer Relationship
1 — Ingredient / What it Means?
Ingredient: Accepting deposits from the public; What it Means: Deposits must come from the general public — not only the proprietor's family or a closed group.
2 — Ingredient / What it Means?
Ingredient: For the purpose of lending or investment; What it Means: The deposits must be used for onward lending or investment, not merely warehoused.
3 — Ingredient / What it Means?
Ingredient: Repayable on demand or otherwise, withdrawable by cheque / draft / order; What it Means: The depositor must be able to withdraw at will, using a negotiable instrument.
1?
A bank account (deposit / loan / current / SB / RD / FD / locker / DEMAT) has been opened in his name.
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