Some important definition of Bank

“A bank is a financial intermediary a dealer in loans and debts.” – Professor Cairncross

“A bank is an office or institution for the keeping, lending and exchanging etc. of money.” – Professor Chambers.

“A bank is a dealer in debt– his own and other people’s.”  – G. Crowther

“Bank is the trader of money and loan.” – J.C. Wood

“The institution which accepts the cheques of the persons from whom it collected money is current accounts is called bank.” – H. L. Hert

“Banks are the institutions whose debts are commonly accepted in settlement of the other people’s debt.” – R.S. Sayers.

“A bank is an economic institution whose main aim is to earn profit through exchange of money and credit instruments.” – John Henry

“A bank is an institution the primary function of which is to collect the unutilized money of the people and to lend it to others.” – R.P. Kent

“Banks are a variety of firm for the safe keeping of money and for the granting and transfer of credit.” – Coulborn

“A bank may be a person or a firm or a company who deals with money like other business organization.” – Prof. T. Hardy

“Bank is a real financial institution which receives deposit from a group of people and lends it to other group of people. – Barbari Block

“A bank performs an essentially distributive task, service or acts as an intermediary between borrowers and lenders. In a sense, however, a bank can be considered the heart of a complex financial structure.” – American Institution of Banking

“Bank is an organization chartered by the state or federal govt., principle functions of which are:

1. to receive demand deposits and pay customers cheques drawn against them.;
2. to receive time deposits and pay interest thereon.;
3. to discount notes, make loans, and invest in govt. or other securities.;
4. to collect cheques, drafts, notes etc.;
5. to issue drafts and cashier’s cheques.;
6. to certify depositors cheques and.;
7. when authorized by a chartard govt. it may act in a fiduciary capacity.”

                                                                                    –  Dictionary of Banking and Finance

“A bank is an establishment which trades in money, an establishment for deposit, custody and issue of money and also for granting loans and discounting bills and facilitating transmission of remittances from one place to another.” – Imperial Dictionary