Comment on the following in the context of the prevailing banking practices and the statutory provisions: Banker possesses right of set-off and not a lien on the money deposited.

Banker possesses right of set-off and not lien on money deposited. The banker's right of lien extends over goods and securities handed over to the banker. Money deposited in the bank and the credit balance in the accounts does not fall in the category of goods and securities. The banker may, therefore, exercise his right of set-off rather the right of lien in respect of the money deposited with him. The lien under Section 171 of Indian Contract Act, 1872 can be exercised only over the property of someone else and not own property. Thus when goods are deposited with or securities are placed in the custody of a bank, it would be correct to speak of right of the bank over the securities or the goods as a lien because the ownership of the goods or securities would continue to remain in the customer. But when money is deposited in a bank as a fixed deposit, the ownership of the money passes to the bank and the right of the bank over the money lodged with it would not be really lien at all. It would be more correct speak of it as a right to set-off or adjustment." [Brahammaya v. K.P. Thangavelu Nadar, AIR (1956), Madras 570].