BANKING AFFAIRS

Detailed explanation-1: -While different banks may have different divisions, these are often the main divisions offered: Retail Banking. Corporate/Commercial Banking. Global Banking.

Detailed explanation-2: -The structure of the banking system of India can be broadly divided into scheduled banks, non-scheduled banks and development banks. Banks that are included in the second schedule of the Reserve Bank of India Act, 1934 are considered to be scheduled banks.

Detailed explanation-3: -The relationship between the banker and the customer is therefore that of a creditor and a debtor.

Detailed explanation-4: -Generally, the bank owes the customer a duty of care, meaning that the bank must use reasonable care and skill while conducting business concerning the customer, but other duties exist as well.