Banking - Indian Laws - General

Meaning of Banking In Concise Oxford English Dictionary , bank has been defined thus: bank n. 1 a financial establishment that uses money deposited by customers for investment, pays it out when required, makes loan at interest, and exchanges currency. In Concise Oxford English Dictionary , the word banking has been defined thus: banking n. the business conducted or services offered by a bank. In Black s Law Dictionary , Ninth Edition banking means the business carried on by or with a bank. Bank is defined thus: bank. (15c) 1. A financial establishment for the deposit, loan, exchange, or issue of money and for the transmission of funds; esp., a member of the Federal Reserve System. Under securities law , a bank includes any financial institution, whether or not incorporated, doing business under federal or state law , if a substantial portion of the institution s business consists of receiving deposits or exercising fiduciary powers similar to those permitted to national banks and if the institution is supervised and examined by a state or federal banking authority; or a receiver, conservator, or other liquidating agent of any of the above institutions. 2. The office in which such an establishment conducts transactions. PANDURANG GANPATI CHAUGULE VERSUS VISHWASRAO PATIL MURGUD SAHAKARI BANK LIMITED- 2020 (5) TMI 148 - SUPREME COURT