Question

Definition of commercial banks given by different authors

Answer 1

Bank is a financial intermediary institution which deals in loans and advances”--- Cairn Cross.

“ Bank is an institution which collects idle money temporarily from the public and lends to other people as per need.”----

R.P. Kent.

“ Bank provides service to its clients and in turn receives perquisites in different forms.”--- P.A. Samuelson.

“ Bank is such an institution which creates money by money only.”-----W. Hock.

Answer 2

Definition of commercial banks given by different authors

• Prof. Roger asserts that a commercial bank is one that deals with money and its equivalent in order to make a profit. "Commercial banks are intermediary profit-making institutions," claims Prof. Ashutosh Nath.

• A financial institution that accepts deposits, provides checking account services, makes different loans, and provides fundamental financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses is referred to as a "commercial bank."
• "Bank is such an entity which makes money by money alone," claims W Hock. "Bank is an economic institution whose main purpose is to earn profit through exchange of money and credit instruments," claims Jhon Harry.
• A commercial bank is a type of financial institution that accepts public deposits and grants borrowers loans for profit-making investments and consumption.

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