{"id":97280,"date":"2022-06-03T17:16:22","date_gmt":"2022-06-03T11:46:22","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=97280"},"modified":"2022-06-03T17:16:23","modified_gmt":"2022-06-03T11:46:23","slug":"functions-of-bank-relationships-norms-others","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/","title":{"rendered":"Functions of Bank- Relationships, Norms &#038; Others"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#How_to_Download_the_Functions_of_Bank-_Relationships_Norms_Others_Free_Ebook\" >How to Download the Functions of Bank- Relationships, Norms &amp; Others Free Ebook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#Introduction\" >Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#Functions_of_Bank\" >Functions of Bank<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#Banker_Customer_Relationship\" >Banker Customer Relationship<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#Take_Sneak_Peek_at_Functions_of_Bank-Relationship_Norms_Others_E-book\" >Take Sneak Peek at Functions of Bank-Relationship, Norms &amp; Others E-book<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#FAQs\" >FAQs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank-relationships-norms-others\/#JAIIB_Study_Material_Compilation\" >JAIIB Study Material Compilation<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>The primary role of the bank is to keep people&#8217;s money safe and to make loans to those who need them. People deposit money with banks, which the banks then use to provide loans to other people. Aside from these primary duties, banks also conduct a variety of other activities. Increased competition in the banking industry, technical developments, and a variety of other factors all led to the rise of products and services. As a professional banker you will be expected to know the functions of banks and other basics. So in this blog you will learn about Functions of bank- Relationships, Norms &amp; Others. You can download Functions of Bank- Relationships, Norms &amp; Others free e-book. <\/p>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib-mock-test\/?ref=cont-soum\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt a free JAIIB Mock Test<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Download_the_Functions_of_Bank-_Relationships_Norms_Others_Free_Ebook\"><\/span>How to Download the Functions of Bank- Relationships, Norms &amp; Others Free Ebook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/bank-functions\" target=\"_blank\" rel=\"noreferrer noopener\">Download the Functions of Bank- Relationships, Norms &amp; Others<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">How to Download\u00a0<strong>The Functions of Bank- Relationships, Norms &amp; Others\u00a0<\/strong>E-book for JAIIB?<\/h3>\n\n\n\n<p>Step 1: Click on the\u00a0<strong><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/bank-functions\" target=\"_blank\" rel=\"noreferrer noopener\">download<\/a>\u00a0<\/strong>link. You will be redirected to Oliveboard\u2019s FREE E-Books Page.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1203\" height=\"548\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/03\/ebook-login-screen.png\" alt=\"\" class=\"wp-image-92928\"\/><\/figure>\n\n\n\n<p>Step 2: Create a free Oliveboard account or login using your existing Oliveboard account details<\/p>\n\n\n\n<p>Step 3: Download the book by clicking on the link presented on the page.<\/p>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">Download free JAIIB Study materials<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Functions_of_Bank\"><\/span>Functions of Bank<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The primary role of the bank is to keep people&#8217;s money safe and to make loans to those who need them. People deposit money with banks, which the banks then use to provide loans to other people. Aside from these primary duties, banks also conduct a variety of other activities. Increased competition in the banking industry, technical developments, and a variety of other factors all led to the rise of products and services.<\/p>\n\n\n\n<p>The concept of money&#8217;s temporal value is well-known among the public at large; they are now aware of their money&#8217;s future potential. Individuals today have a variety of alternative investment possibilities in addition to having a savings account in the name of investing. This is one of the main reasons why banks can no longer rely on client deposits and must look for new financial services to benefit from.<\/p>\n\n\n\n<p>The following are the various topics covered in the module on the <strong>Functions of Banks. <\/strong>These have been discussed one by one below-<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Banker_Customer_Relationship\"><\/span><strong>Banker Customer Relationship<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As a result, creating a client account connection is critical. Contractual agreements govern account interactions. Banking is a trust-based relationship. There are numerous forms of relationships between the bank and the consumer. The type of transaction has an impact on the relationship between a banker and a customer. As a result, the relationship is based on a contract with clear terms and conditions. Both the banker and the consumer have certain rights and responsibilities as a result of these interactions. The bank&#8217;s human touch with its customers, on the other hand, is ongoing. Certain banks even claim to have ties with their clients that span generations.<\/p>\n\n\n\n<p>The lender-consumer connection is extremely important. The relationship between a bank and its customers may be classified into two categories: general and special relationships.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>General Relationship<\/strong><\/h3>\n\n\n\n<p>The bank&#8217;s business, according to Section 5(b) of the Banking Regulation Act, is to accept deposits for lending. As a result, the relationship produced by these two basic actions is referred to as the General Relationship.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Debtor and Creditor<\/li><li>Creditor and Debtor<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Special Relationship<\/strong><\/h3>\n\n\n\n<p>Banks also participate in other activities outlined in Section 6 of the Banking Regulation Act in addition to these two. In addition to opening a deposit\/loan account, banks offer a variety of services, which broadens and complicates the connection. The banker may serve as a bailee, agent, lessor, custodian, trustee, principal, and so on, depending on the nature of the transaction and the services offered.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Advisor and Client (Bank-Advisor and Customer-Client)<\/li><li>Trustee and Beneficiary( Bank as a trustee and customer as a beneficiary)<\/li><li>Mortgagor and Mortgagee (Bank-Mortgagee and Customer-Mortgagor)<\/li><li>Bailee and Bailor (Bank-Bailee and Customer-Bailor)<\/li><li>Agent and Principal (Bank-Agent and Customer-Principal)<\/li><li>Lessor and Lessee (Bank-Lessor and Customer-Lessee)<\/li><li>Pledger and Pledgee (Bank-Pledgee or Pawnee and Customer-Pledger or Pawnor)<\/li><li>Hypothecator and Hypothecatee (Bank-Hypothecatee and Customer-Hypothecator)<\/li><li>Indemnity holder and Indemnifier (Bank-Indemnity Holder and Customer-Indemnifier)<\/li><li>As a Guarantor<\/li><li>As a Custodian<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>KYC\/CFT\/AML Norms&nbsp;<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li>KYC criteria were implemented to ensure combating terrorist financing (CTF), anti-money laundering (AML), and risk management.<\/li><li>Customer Identification Procedures, Risk Management, Customer Acceptance Policy, and Transaction Monitoring are the four important features that banks must incorporate into their KYC policies.<\/li><li>Banks are required to collect the client&#8217;s identity and address at the moment the consumer opens a bank account.<\/li><li>Consumers are divided into three groups: high-risk customers, medium-risk customers, and low-risk customers.<\/li><li>Pensioners, government departments, salaried individuals, and no-frills accounts are examples of low-risk consumers.<\/li><li>High-risk consumers include HNWIs, trusts, NGOs, politically exposed individuals, and so on.<\/li><li>Banks should examine their clients&#8217; risk profiles at least once every six months.<\/li><li>Customer identifying data and entire KYC exercises should be updated regularly as follows:<\/li><\/ol>\n\n\n\n<ul class=\"wp-block-list\"><li>Low Risk \u2013 Every 10 years<\/li><li>Medium Risk- Every 8 years<\/li><li>High Risk- Every 2 years<\/li><\/ul>\n\n\n\n<p><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/bank-functions\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Read More Here<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Take_Sneak_Peek_at_Functions_of_Bank-Relationship_Norms_Others_E-book\"><\/span>Take Sneak Peek at Functions of Bank-Relationship, Norms &amp; Others E-book <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"574\" height=\"764\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/06\/caiib-qs-1.png\" alt=\"\" class=\"wp-image-97288\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We hope this e-book provides you with detailed knowledge regarding the JAIIB Exam <strong>Functions of Bank<\/strong>-Relationship, Norms &amp; Others. Please contact Oliveboard if you have any questions. <\/p>\n\n\n\n<p>Keep following Oliveboard for more updates. To stay updated, follow Oliveboard on\u00a0<a href=\"https:\/\/bit.ly\/OB-FB-JAIIB-CAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>\u00a0and\u00a0<a href=\"https:\/\/bit.ly\/OB-TG-JAIIB-CAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Telegram<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1654254074437\"><strong class=\"schema-faq-question\">Q. What is Agricultural Finance?<\/strong> <p class=\"schema-faq-answer\">A. A farmer&#8217;s credit requirements are addressed by two types of agricultural advances: direct and indirect financing. Direct finance is classified into two types: short-term loans and medium- to long-term loans. Farmers can get direct agricultural finance for short-term demands like crop production as well as medium- and long-term needs like land expansion and water resource enhancement.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1654254107327\"><strong class=\"schema-faq-question\">Q. What is a Cheque?<\/strong> <p class=\"schema-faq-answer\">A. A cheque is a bill of exchange that is always payable on demand and always has a banker as the drawee. It also incorporates truncated and electronic cheques.<\/p> <\/div> <\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-52f04e3b-573e-489e-8a6d-c4f4b65aa8e5\"><span class=\"ez-toc-section\" id=\"JAIIB_Study_Material_Compilation\"><\/span>JAIIB Study Material Compilation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table><tbody><tr><td>Principles And Practices Of Banking&nbsp;<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/principles-and-practices-of-banking\/\">Principles And Practices Of Banking | Study Notes For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Reserve Bank of India<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/banking-awareness-notes-reserve-bank-of-india-rbi\/\">Reserve Bank of India: Organisation &amp; Functions \u2013 Oliveboard<\/a><\/td><\/tr><tr><td>Types Of Shares And Their Issue<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/types-of-shares-and-their-issue\/\">Types Of Shares And Their Issue- Types, Classification, Bonus Shares (oliveboard.in)<\/a><\/td><\/tr><tr><td>Understanding The Balance Sheet And Its Format<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/understanding-the-balance-sheet-and-its-format\/\">Understanding The Balance Sheets And It\u2019s Format (oliveboard.in)<\/a><\/td><\/tr><tr><td>Accounting And Finance For Bankers<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/accounting-and-finance-for-bankers\/\">Accounting And Finance For Bankers | Study Notes For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Assets &amp; Liabilities&nbsp;<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/assets-liabilities\/\">Assets &amp; Liabilities \u2013 Meaning, Legal Requirements and more (oliveboard.in)<\/a><\/td><\/tr><tr><td>Public Sector Banks And Cooperative Banks<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/public-sector-banks-and-cooperative-banks\/\">Public Sector Banks And Cooperative Banks | JAIIB Study Notes (oliveboard.in)<\/a><\/td><\/tr><tr><td>Calculation of Interest and Annuities<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/\">Calculation of Interest and Annuities-Business Mathematics For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Calculation of YTM<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-ytm\/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=calculation-of-ytm\">Calculation of YTM(Yield to Maturity)-Basics of Business Mathematics (oliveboard.in)<\/a><\/td><\/tr><tr><td>Consumer Protection Act<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/consumer-protection-act\/\">Consumer Protection Act COPRA- Free Pdf Notes for JAIIB 2022 (oliveboard.in)<\/a><\/td><\/tr><tr><td>Risk and Basic Risk Management Framework<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/risk-and-basic-risk-management-framework-jaiib\/\">Risk and Basic Risk Management Framework JAIIB | Oliveboard<\/a><\/td><\/tr><tr><td>Risks in Banking Business<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/risks-in-banking-business\/\">Risk in Banking Business<\/a><\/td><\/tr><tr><td>Functions of Bank<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank\/\">Functions of Bank \u2013 Short Notes for JAIIB Exam | Oliveboard<\/a><\/td><\/tr><tr><td>Payments and Collecting Cheques<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/Payment-collection-of-cheques-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Payment and Collection of Cheques and Other Negotiable Instruments for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Data Communication Network<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/data-communication-EFT-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Data Communication Network and EFT Systems for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Technology Upgradation and it\u2019s impact<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/technology-upgradation-its-impacts\" target=\"_blank\" rel=\"noreferrer noopener\">Role of Technology Upgradation and its impact on Banks JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Foreign Exchange Arithmetic <\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/foreign-exchange-arithmetic\" target=\"_blank\" rel=\"noreferrer noopener\">Foreign Exchange Arithmetic Free Ebook for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Indian Financial System- Overview <\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/IFS-Overview\" target=\"_blank\" rel=\"noreferrer noopener\">Indian Financial System- Overview for JAIIB I 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need<\/p>\n","protected":false},"author":50,"featured_media":97289,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10353],"tags":[],"class_list":["post-97280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-jaiib","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Functions of Bank-Relationships, Norms &amp; Others for JAIIB<\/title>\n<meta name=\"description\" content=\"The JAIIB test is used to ensure that applicants have a solid understanding of bank operations. 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