IGNOU ECO 1 2017 2018 - The relationship between a banker and customer is primarily that of a

Question

The relationship between a banker and customer is primarily that of a debtor and a creditor”. Discuss

16 Feb 2018

Answer :

Word Count : 340

When a customer opens an account with a bank and if the account has a credit balance, then the relationship is that of debtor (banker / bank) and creditor (customer).

In case of savings / fixed deposit / current account (with credit balance), the banker is the debtor, and the customer is the creditor. This is because the banker owes money to the customer. The customer has the

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