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. 📌 1. What is the Relationship Between Banker and Customer? The relationship between a bank and a customer is mainly contractual (based on agreement). When you open a bank account: You agree to follow bank rules. The bank agrees to keep your money safe and allow withdrawals. 🔹 Main Types of Relationship (1) Debtor and Creditor When you deposit money: Bank becomes debtor (it owes money to you). You become creditor . When you take a loan: You become debtor . Bank becomes creditor . This principle was clearly explained by the Supreme Court in . 📌 2. Duties of Bank Towards Customer Banks have legal duties: Keep money safe. Follow customer instructions properly. Maintain secrecy of account. Protect account from fraud. Act carefully and honestly. If the bank fails, it can be held liable under consumer law. 📌 3. RBI “Zero Liability” Rule (Very Important) In 2017, RBI issued rules about unauthorized online transactions . 🔹 Zero Liability Means: If:...

📌 1. What is the Relationship Between Banker and Customer? The relationship between a bank and a customer is mainly contractual (based on agreement). When you open a bank account: You agree to follow bank rules. The bank agrees to keep your money safe and allow withdrawals. 🔹 Main Types of Relationship (1) Debtor and Creditor When you deposit money: Bank becomes debtor (it owes money to you). You become creditor . When you take a loan: You become debtor . Bank becomes creditor . This principle was clearly explained by the Supreme Court in . 📌 2. Duties of Bank Towards Customer Banks have legal duties: Keep money safe. Follow customer instructions properly. Maintain secrecy of account. Protect account from fraud. Act carefully and honestly. If the bank fails, it can be held liable under consumer law. 📌 3. RBI “Zero Liability” Rule (Very Important) In 2017, RBI issued rules about unauthorized online transactions . 🔹 Zero Liability Means: If: ...