GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bonds given for safe custody
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Bonds given for collection
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Both (a) and (b)
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Bonds left by mistake
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Detailed explanation-1: -A Banker’s lien is always a general lien. A banker has a right to exercise both kinds of lien. his general lien confers upon his the right to retain the securities in respect of the general balance due from the customer.
Detailed explanation-2: -"A banker’s lien on negotiable securities has been judicially defined as ‘an implied pledge’. A banker has, in the absence of agreement to the contract, a lien on all bills received from a customer in the ordinary course of banking business in respect of any balance that may be due from such customer."
Detailed explanation-3: -General Lien Example: If two securities are given to banker but a loan is taken against one of them he ( banker ) may retain both the securities until his claim is satisfied.
Detailed explanation-4: -A bank can enforce its lien if mutual demands exist between itself and the customer, that is when they mutually exist between the same parties and between them in the same capacity.