Banking Special Customers​​

Raghvi Gupta
Ajeenkya D Y Patil University, Pune, India.

Volume IV, Issue I, 2021

Banking is an important sector and lots of informalities occur while dealing with the customers which are classified as special as due to prevalence of other laws, customs and most importantly the soundness of mind. And therefore, keeping in mind all of these, special rules are formulated to deal with such customers and situations.

A banking relationship between a customer and a bank is also a type of legal contract. Banks solicit the deposit of money from public and any person who is legally capable of entering in a valid contract may apply in a proper way to deposit his or her money with the bank and hence enter into a valid contract with the bank. As , by the law, there are exceptions regarding people or situations , similar is with the banking customers. The banks consider a few categories of people including minors, married women, and lunatics etc. as their special customers.

The research deals with the rules for minors and guardianship rules, studied taking in view the different religions and its significance in the field of banking. Also, the paper answers the questions like precautions to be taken while operating or creating accounts of married and pardahnashin women and provisions for the blind and illiterate customers.