You are an officer recently posted in the bank branch of State Bank of India and under the following situation how you will act?
01. You are in charge of deposits counter and a customer approaches you on 12.01.2013 with cheque dated: 12.01.2012 for an amount of Rs. 1000/- payable to bearer – The cheque cannot be paid since it is dated: 12.01.2012. Normally the cheque is valid for three months only. I shall return the cheque to the customer informing him of the facts.
02. The second customer approaches you with a cheque dated: 10.01.2013 favouring Kannan or order: Since the cheque is found to be an order cheque, I have to exercise much care to identify the person. I shall request the customer to prove his identity and request him to produce a driving licence, voter id card, AATHAAR card or identify card issued by his employer and when I am satisfied with the identity of the person, I shall permit him to withdraw the amount.
03. Five minutes later, the third customer approaches you with a crossed cheque dated: 12.03.2013 for an amount of Rs. 5000.00 and demands payment: - On the one hand the cheque is dated 12.03.2013 and is found to be post dated and I cannot pay the cheque. On the other hand, the cheque is crossed and the customer can get payment of the cheque through his account only.
04. The fourth customer approaches you with a cheque crossed to Indian Overseas Bank and the cheque is dated: 10.01.2013 for an amount of Rs. 5000.00 favouring the customer: - The cheque is crossed to Indian Overseas Bank and necessarily the customer can get the payment of the cheque through his account with Indian Overseas Bank only. The cheque cannot be paid through an account in SBI..
05. The fifth customer approaches you with a cheque dated: 10.01.2013 for an amount of Rs. 5000.00. On going through the cheque you find that amount in the cheque has been written as “five thousand five hundred only”: According to Negotiable Instruments Act, when the amount mentioned in words and figures differ, the amount mentioned in words has to be taken into account and I shall arrange to make payment for Rs. 5500.00.
06. An old lady comes to you and requests you to help her in opening a savings bank account – For opening savings account, she has to produce two passport size photographs; provide identify proof and address proof and she can produce her voter ID card for this purpose; she has to remit the minimum amount required for opening the account. I shall provide her the bank account opening form and once filled in I shall check the details and direct her to meet the Manager in charge for getting his authorization for opening the account.
07. A customer approaches you and requests you to help him opening a savings bank account for his partnership firm – Savings bank account cannot be opened by a partnership firm. However, as an Individual he can open savings bank account for himself and not in the capacity of a partner in his partnership firm.
08. The partner of a partnership firm approaches you for opening one current account for the partnership firm. – I shall request the customer to produce the details about the various partners. I shall demand from him, the copy of partnership deed in respect of the firm and from the partnership deed, I shall find out the operation conditions. I shall provide him the necessary application form and advise him that the authorized partners should come personally to the bank branch for opening the account along with passport size photographs, address proof and identify proof and the minimum balance required for opening the account.
09. A student aged 12 years old approaches you for opening savings bank account in his name and how will you guide him? Savings bank accounts can be opened in the name of minors under two conditions. The minor can himself open the account provided he is a student and produces a certificate from the Headmaster or Principal of school stating that he is a bonafide student studying in the school and subject to other formalities an account can be opened in his name in individual capacity. Otherwise either his father or mother should open an account in his name and the account will be operated by his natural guardian till the minor attains majority.
10. A minor boy approaches you with a cheque for an amount of Rs 5000 payable to bearer. The cheque can be paid to the minor provided the cheque is in order in all respects. There is no harm in paying the amount of the cheque to the minor.