{"id":98565,"date":"2026-03-03T21:39:15","date_gmt":"2026-03-03T16:09:15","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=98565"},"modified":"2026-03-03T21:39:17","modified_gmt":"2026-03-03T16:09:17","slug":"bankers-special-relationship","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/bankers-special-relationship\/","title":{"rendered":"Bankers&#8217; Special Relationship, Important for JAIIB PPB 2026"},"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\/bankers-special-relationship\/#What_is_a_mandate_in_banking\" >What is a mandate in banking?<\/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\/bankers-special-relationship\/#Download_Bankers_Special_Relationship_E-Book\" >Download Bankers&#8217; Special Relationship E-Book<\/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\/bankers-special-relationship\/#What_is_a_power_of_attorney_POA\" >What is a power of attorney (POA)?<\/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\/bankers-special-relationship\/#What_is_a_letter_of_authority_and_how_does_it_differ_from_POA\" >What is a letter of authority and how does it differ from POA?<\/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\/bankers-special-relationship\/#Why_is_understanding_bankers_special_relationship_important_for_JAIIB\" >Why is understanding bankers&#8217; special relationship important for JAIIB?<\/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\/bankers-special-relationship\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>When a customer opens an account with a bank, a unique legal and fiduciary relationship is established between the banker and the customer. This relationship is more than just a business arrangement it comes with specific rights, responsibilities, and privileges for both parties. Understanding the Bankers&#8217; Special Relationship is crucial for JAIIB PPB aspirants, as it forms the foundation for topics like mandate, power of attorney, lien, set-off, and appropriation. <\/p>\n\n\n\n<p>In this blog, we have provided detailed information about the Banker\u2019s Special Relationship, its mandate definition, Power of Attorney (POA) definition, Banker\u2019s Lien, Right of Set-off, and Right of Appropriation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-mandate-in-banking\"><span class=\"ez-toc-section\" id=\"What_is_a_mandate_in_banking\"><\/span>What is a mandate in banking?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A mandate is an instruction from a customer authorising another person to operate their bank account on their behalf. It is usually for a specific period and governs routine account operations.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A mandate contract involves a mandatary performing tasks for the mandator, with payment as agreed.<\/li>\n\n\n\n<li>The customer formally notifies the bank about the mandate.<\/li>\n\n\n\n<li>Signatures of the mandatary are verified in the mandate letter.<\/li>\n\n\n\n<li>Mandates are generally time-bound.<\/li>\n\n\n\n<li>Institutional mandates are not acceptable.<\/li>\n\n\n\n<li>A Power of Attorney (POA) can be issued by institutions, unlike mandates.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" 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\" id=\"h-download-bankers-special-relationship-e-book\"><span class=\"ez-toc-section\" id=\"Download_Bankers_Special_Relationship_E-Book\"><\/span>Download <strong>Bankers&#8217; Special Relationship<\/strong> E-Book<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The direct link to download the PDF is provided below.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/www.oliveboard.in\/bankers-special-relationship\/?ref=contac-nai-reg-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">Download Bankers&#8217; Special Relationship free e-book<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-power-of-attorney-poa\"><span class=\"ez-toc-section\" id=\"What_is_a_power_of_attorney_POA\"><\/span>What is a power of attorney (POA)?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A power of attorney is a legal document that authorises an individual or legal entity to act on behalf of another in civil or financial matters. It can be general (universal) or special (limited to specific tasks).<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>General\/Universal POA:<\/strong> Grants broad authority to act on behalf of the principal.<\/li>\n\n\n\n<li><strong>Special\/Limited POA:<\/strong> Restricted to specific transactions or responsibilities.<\/li>\n\n\n\n<li>The POA holder can perform actions that the principal is legally permitted to do.<\/li>\n\n\n\n<li>Both mandate and POA allow a third party to operate the account, but POA usually has broader powers.<\/li>\n<\/ul>\n\n\n\n<p>Also Check: <a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-syllabus-for-principles-practices-of-banking\/?ref=contac-nai-jaiib-bsr\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB PPB Syllabus<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-letter-of-authority-and-how-does-it-differ-from-poa\"><span class=\"ez-toc-section\" id=\"What_is_a_letter_of_authority_and_how_does_it_differ_from_POA\"><\/span>What is a letter of authority and how does it differ from POA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A letter of authority authorises someone to perform a specific task or access information, while a POA gives complete authority to act and make decisions on behalf of the principal.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Used for disclosing confidential information or delegating limited responsibilities.<\/li>\n\n\n\n<li>Can be task-specific, e.g., collecting documents, paying bills, or accessing files.<\/li>\n\n\n\n<li>Unlike POA, a letter of authority does not require notarisation and grants partial authority.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/jaiib\/?ref=contac-nai-jaiib-bsr\" target=\"_blank\" rel=\"noreferrer noopener\">Explore the JAIIB Online Courses<\/a><\/div>\n<\/div>\n\n\n\n<p>In banking operations, both a Power of Attorney (POA) and a Letter of Authority (LOA) allow a third party to act on behalf of the customer, but their scope and legal implications differ. While a POA grants broader authority and can cover multiple legal or financial actions, a LOA is usually task-specific and provides limited authority. The following table provides the key differences:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Basis<\/strong><\/td><td><strong>Power of Attorney<\/strong><\/td><td><strong>Letter of Authority<\/strong><\/td><\/tr><tr><td>Type<\/td><td>Legal document<\/td><td>Legal document<\/td><\/tr><tr><td>Function<\/td><td>Delegates authority to act and take decisions<\/td><td>Delegates specific responsibilities<\/td><\/tr><tr><td>Purpose<\/td><td>To act on behalf of the principal in all matters<\/td><td>To carry out a specific task<\/td><\/tr><tr><td>Authority<\/td><td>Complete authority<\/td><td>Partial authority<\/td><\/tr><tr><td>Contents<\/td><td>Detailed information about parties and tasks<\/td><td>Detailed but less exhaustive<\/td><\/tr><tr><td>Power<\/td><td>More powerful<\/td><td>Less powerful<\/td><\/tr><tr><td>Task Complexity<\/td><td>Complex or specialised tasks<\/td><td>Simple or routine tasks<\/td><\/tr><tr><td>Directions<\/td><td>Outlines precise steps<\/td><td>Steps may or may not be specified<\/td><\/tr><tr><td>Notarisation<\/td><td>Required<\/td><td>Not required<\/td><\/tr><tr><td>Uses<\/td><td>Property purchase, business deals, medical decisions<\/td><td>Collecting papers, paying bills, accessing information<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Also Check:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Study Material<\/strong><\/td><td><strong>Study Material<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/www.oliveboard.in\/jaiib-ie-ifs-questions\/?ref=contac-reg-jaiib-sm\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB IE and IFS Important Questions PDF<\/a><\/td><td><a href=\"https:\/\/www.oliveboard.in\/jaiib-ppb-questions\/?ref=contac-nai-jaiib-sm\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB PPB Important Questions PDF<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/www.oliveboard.in\/jaiib-afm-questions\/?ref=contac-nai-jaiib-sm\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB AFM Important Questions PDF<\/a><\/td><td><a href=\"https:\/\/www.oliveboard.in\/jaiib-rbwm-questions\/?ref=contac-nai-jaiib-sm\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB RBWM Important Questions PDF<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-understanding-bankers-special-relationship-important-for-jaiib\"><span class=\"ez-toc-section\" id=\"Why_is_understanding_bankers_special_relationship_important_for_JAIIB\"><\/span>Why is understanding bankers&#8217; special relationship important for JAIIB?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This knowledge helps candidates interpret legal rights, responsibilities, and scenario-based questions in the <a href=\"https:\/\/www.oliveboard.in\/jaiib-notification\/?ref=contac-nai-jaiib-bsr\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB PPB exam<\/a>. Understanding concepts like mandate, POA, lien, set-off, and appropriation ensures accurate application in practical banking situations.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It defines rights of the banker, including lien, set-off, and appropriation.<\/li>\n\n\n\n<li>Guides duties toward the customer, like confidentiality and proper execution of instructions.<\/li>\n\n\n\n<li>Forms the basis for scenario-based exam questions in JAIIB PPB.<\/li>\n<\/ul>\n\n\n\n<p><strong>Also Check:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Study Plan<\/strong><\/td><td><strong>Study Plan<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/www.oliveboard.in\/blog\/how-to-prepare-for-jaiib-ie-and-ifs-exam\/?ref=contac-nai-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB IE And IFS Study Plan<\/a><\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/how-to-prepare-for-jaiib-ppb\/?ref=contss-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB PPB Study Plan<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-afm-preparation\/?ref=contac-nai-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB AFM Study Plan<\/a><\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-rbwm-strategy\/?ref=contac-nai-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">JAIIB RBWM Study Plan<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><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-1655712204997\"><strong class=\"schema-faq-question\">1. What is a mandate in banking?<\/strong> <p class=\"schema-faq-answer\">Answer: A mandate is a written instruction by a customer authorising another person to operate their bank account on their behalf.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1655712225207\"><strong class=\"schema-faq-question\">2. Which document grants complete legal authority to act on behalf of a person in financial matters?<\/strong> <p class=\"schema-faq-answer\">Answer: A Power of Attorney (POA).<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1771306736218\"><strong class=\"schema-faq-question\">3. Can an institution issue a mandate to operate its bank account?<\/strong> <p class=\"schema-faq-answer\">Answer: No, institutional mandates are not acceptable; institutions issue a Power of Attorney instead.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1771306736874\"><strong class=\"schema-faq-question\">4. What is the banker\u2019s right to retain securities until the customer clears dues called?<\/strong> <p class=\"schema-faq-answer\">Answer: Banker\u2019s Lien.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1771306738866\"><strong class=\"schema-faq-question\">5. What is the right of a bank to adjust credit balance in one account against a debit in another account of the same customer?<\/strong> <p class=\"schema-faq-answer\">Answer: Right of Set-off.<\/p> <\/div> <\/div>\n\n\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/failed-jaiib-attempts-shankars-strategy-can-help-you\/\">Failed JAIIB Attempts? Shankar\u2019s Strategy Can Help You<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-rbwm-study-material\/\">JAIIB RBWM Study Material, Download Notes and Quiz PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/ie-ifs-easiest-way-to-cover-study-tips\/\">JAIIB IE &amp; IFS Easiest Way to Cover Syllabus &amp; Study Tips<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ie-ifs-important-topics\/\">8 Essential Topics That Appear Every Year in JAIIB IE and IFS Exams<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-afm-study-material\/\">JAIIB AFM Study Material, Download Notes and Quiz PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-ppb-study-material\/\">JAIIB PPB Study Material, Download Notes and Quiz PDF<\/a><\/li>\n<\/ul>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When a customer opens an account with a bank, a unique legal and fiduciary relationship is established between the banker<\/p>\n","protected":false},"author":50,"featured_media":237595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10353],"tags":[],"class_list":["post-98565","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>Bankers&#039; Special Relationship, Important for JAIIB PPB 2026<\/title>\n<meta name=\"description\" content=\"Understand the Bankers Special Relationship and its roles including rights, responsibilities, and the importance of mandates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveboard.in\/blog\/bankers-special-relationship\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bankers&#039; Special Relationship, Important for JAIIB PPB 2026\" \/>\n<meta property=\"og:description\" content=\"When a customer opens an account with a bank, a unique legal and fiduciary relationship is established between the banker and the customer. This\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oliveboard.in\/blog\/bankers-special-relationship\/\" \/>\n<meta property=\"og:site_name\" content=\"Oliveboard\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Oliveboard\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-03T16:09:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-03T16:09:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/06\/JAIIB-5-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Saloni Singhal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:site\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saloni Singhal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/bankers-special-relationship\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/bankers-special-relationship\/\"},\"author\":{\"name\":\"Saloni Singhal\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#\/schema\/person\/6aedd7baaab0f33dc2f40834a257f88c\"},\"headline\":\"Bankers&#8217; 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