Different definitions of banking

Prof. G. Crowther says:
"The bankers business is to take the debts of the other people to offer his own in exchange and thereby creates money."
British Parliament says:
"Any firm or institution doing a bonafide banking business."
The word bonafide here means "safeguard".

Kent says:
" An organization whose principal operations are concerned with the accumulation of the temporary idle money of the general public for the purpose of advancing to others for expenditure."
Kinley says:
"A bank is an institution which receives deposits and advances loans."

According to Dr. Harts:
"A banker is one who in the ordinary cause of his business, receives money which he repays by honouring cheques of persons from whom or on whose account he received it."

According to Prof. Sayers:
"A bank is an institution whose debts are widely accepted as settlement of other people's debts to each other."

According to Cairncross:
"Bank is a financial intermediary dealer in loans and debts."

Banking Companies Ordinance 1962:
"Banking means the accepting for the purpose of lending or investing of deposits of money from the public repayable in demand or otherwise and withdrawable by cheque, draft order or otherwise."

So what we can say that a bank is a financial institution that is licensed to deal with money and it substitutes by accepting time and demand deposits, making loans and investing in securities.