Question

Which of the following is correct for special relationships?

(i) A special relationship is the one between bankers and customers.
(ii) Under it, the two categories are primary and subsidiary relationships.
(iii) It a special relationship because the banks maintain secrecy of the accounts of their customers.

• A. (i) and (ii) are correct
• B. (ii) and (iii) are correct
• C. (i) and (iii) are correct
• D. All are correct

Answer 1

The correct option is C (i) and (iii) are correct

The second category of relationship is a special relationship. A special relationship is one between bankers and their customers. It is called so because there is an amount of secrecy maintained about the accounts of the customers. In return, the customers also fulfill the obligation to honour the cheques of the banks. It does not have any other categories. Hence, (ii) is incorrect.