A bank is under a statutory obligations to honour its customer's cheques vide:

Whenever some people wish to enter into the business world, it is a must for them to approach a bank. What services do banks provide them in this regard?

I. Banks act as payment agents by operating current accounts, paying cheques and receiving payments for them.

II. Maintaining account books for them for their day-to-day activities, so that they are not required to appoint account/finance personnel on a regular basis.

III. Lending money by way of overdraft, instalment loan, credit or advance for business activities.

Select the correct answer using the codes given below:

The legal relationship between a bank and its customer is a kind of:

I.  debtor and creditor.

II. principal and agent.

III. pledger and pledgee.

IV. mortgagor and mortgage.

Select the correct answer using the codes given below:

Money laundering usually involves: