One Day

1. There is an overdraft in the joint names of A and B and there is a credit balance in the name account of A. Can the banker set off the credit balance against the overdraft. Give reason

2. D is the guarantor of a loan granted by the bank to S. The loan has become sticky. There is a credit balance in the account of D. Can the banker set it off against D’s liability as a guarantor?

3. On June 20th your branch received a garnishee order to attach all sums owing by the bank to your customer X. X has a joint account with Y in your branch and an overdue unsecured loan account in the name of X in which he owes the bank Rs. 1000.

4. You have a joint account of Mr and Mrs Desai as ‘joint account’ in your branch. Mrs. Desai approaches you for knowing the account balance. How would you react?

5. As branch manager how will you deal with the following situations?

a. Your customer sends a crossed cheque drawn by A in favour of your bank for crediting it his (the customer’s) account with your bank.

b. Smt. Radha P. Patel sends for the credit of her account with you a cheque drawn in favour of Smt. R P Patel and endorsed by her as Smt. Radha Patel.

c. Cheque, dated 17th April 2009 presented on 8th July 2009

d. Paying a cheque to B which is drawn in favour of A and marked ‘not negotiable’.

6. ‘Exclusive sports club’ wants to open a current account at your branch. What are the formalities you will need for opening the account and the points you will keep in mind in regard to the operation?

7. Two persons Mr. Rohit and Mr. Mohit maintain a joint saving account with the operating style ‘either or survivor’. Mr. Mohit filed insolvency petition and in the meantime a cheque drawn by Mr. Rohit is presented for payment. What course of action will you take?

8. A cheque for Rs. 50,916 paid by a bank is found later to have been chemically altered, the amount having been raised considerably, Can the bank claim protection?

9. How would you...