1.

Give two definitions of bank.

Answer»

According to Findlay Shirras “Banker, is an individual, firm or company who has place for business where the money or currency is deposited, and through this deposited money or currency, the function of credit is performed and the deposited money is paid either by draft, cheque or through an order”.
According to Crowther, “A banker is a dealer in debt of his own and other people The banker’s business is then to take the debts of other people, to offer his own in exchange and thereby to create money”.



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