Banking COMPANY is one which transacts the business of banking which means the accepting for the PURPOSE of lending or investment of deposits MONEY from the public repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise”. . Dictionary MEANING of the Word ‘Bank’ -The OXFORD dictionary defines a bank as “an establishment for custody of money received from or on behalf of its customers. It’s essential duty is to pay their drafts on it. It’s profits arises from the use of the money left employed by them.

Banking Company is one which transacts the business of banking which means the accepting for the purpose of lending or investment of deposits money from the public repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise”. . Dictionary meaning of the Word ‘Bank’ -The oxford dictionary defines a bank as “an establishment for custody of money received from or on behalf of its customers. It’s essential duty is to pay their drafts on it. It’s profits arises from the use of the money left employed by them.