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Banker

06-DEC-2014 10:59

    Definition of a Banker

    The banker is defined under Section 5(b) of the Banking Regulation Act, 1949. It says, "Banking is accepting for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft or otherwise."

    This definition emphasizes 2 points:

    1. The primary function of a banker comprises of accepting of deposits for the purpose of investing or lending the same;
    2. The amount deposited is repayable to the depositor on demand or as per the agreement. The demand for repayment can be done through a draft, a cheque, or otherwise. It is not done merely by any verbal order.

    A banker is in charge of establishing & maintaining constructive customer relationships, delivering and planning effective sales strategies & observing the progress of existing and new financial products. Banks function in a fiercely spirited marketplace where change is common. Services and products offered have to expand to meet the demands and expectations of customers & functioning with staff & customers to attain targets has become major part of the role. Bankers may work as managers in high-street branches providing operational support on a daily basis, or in more specialized posts in commercial or corporate departments at head offices or regional offices.

     

    Source: nadfm.nic.in

    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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