Subject: Banking | Topics: Assignment
What is a Bank? Expert’s Opinions?
“A dealer in debts – his own & of other people”.
“A bank as an institution whose debts (bank deposits) are widely accepted in settlement of other people’s debts to each other”.
“No person or body, corporate or otherwise, can be a banker who does not (i) take deposit accounts, (ii) take current accounts, (iii) issue & pay cheques, & (iv) collect cheques, crossed & uncrossed, for his customers”.
(Sir John Paget)