Scribd
Upload
50 views

Collection of Cheques

This document summarizes the duties of a collecting banker. It discusses how a collecting banker is responsible for collecting various payment instruments like cheques on behalf of customers with due care and diligence. The document also outlines the banker's duties to remit proceeds to customers, serve notices of dishonour, and comply with know-your-customer (KYC) requirements. Additionally, it defines what constitutes dishonour of a cheque and notes that reasons must be provided when dishonouring payment instruments.

Uploaded by

28-RPavan raj. B
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
50 views

Collection of Cheques

This document summarizes the duties of a collecting banker. It discusses how a collecting banker is responsible for collecting various payment instruments like cheques on behalf of customers with due care and diligence. The document also outlines the banker's duties to remit proceeds to customers, serve notices of dishonour, and comply with know-your-customer (KYC) requirements. Additionally, it defines what constitutes dishonour of a cheque and notes that reasons must be provided when dishonouring payment instruments.

Uploaded by

28-RPavan raj. B
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 7

This Photo by Unknown Author is licensed under CC BY-NC-ND

COLLECTION OF
CHEQUES
a presentation by IMA 76-E
Agenda
1. Collection of Cheque

2 Duties of collection banker

3 Kyc- kNOW YOUR CUSTOMER

4 DISHONOUR OF CHEQUE
Collection of Cheque
One of the important functions of a modern
banker is to collect cheques and bills on
behalf of his customers. While doing so the
collecting banker has to act with
responsibility towards his customers. For
example, a banker should give adequate care
and act quickly to protect the interests of his
customer. A banker will get protection only
when he acts in good faith and without
negligence.
This Photo by Unknown Author is licensed under CC BY-ND

3 presentation
DUTIES OF COLLECTION
OF BANKER mEANING
 A Collecting banker is the one undertakes to
collect various types of instruments representing
money in favour of his costumer or on his own
behalf from drawers of these instruments from the
paying banker.

Duties & responsibilities :


 Due care & diligence in collection of cheques.

 Serving notice of dishonour.

 Agent for collection

 Remittance of proceeds to customer

This Photo by Unknown Author is licensed under CC BY-SA-NC  Collection of bills of exchange

4 presentation
Kyc- kNOW YOUR
CUSTOMER
KYC means Know Your Customer and
sometimes Know Your Client. KYC or
KYC check is the mandatory process of
identifying and verifying the client's
identity when opening an account and
periodically over time. In other words,
banks must make sure that their clients
are genuinely who they claim to be.

5 presentation
Dishonour of Cheque
A cheque is said to be dishonoured, when it
is not paid when demanded, for certain
reasons.
According to the NI Act, when a negotiable
instrument is dishonoured, the holder must
give notice of dishonour to all other parties
whom he seeks to make liable.
The objective of giving notice is to notify all
the parties of their liability under the
instrument. The paying banker should clearly
specify the reasons for dishonour of the
cheque.

6 presentation
THANK YOU
Pronoy pratim baruah

Billa pavan raj

Prashant srivastava

Rijika roy

You might also like