The person who performs the banking activities such as accepting of deposits, lending money, withdrawing facilities, exchanging of money is known as a banker. In other words, the person who directly related to the banking business is called banker. Banker manages all the activities of a bank.
Generally, the proprietor or the directors of the bank are said banker. That means who takes responsibility to run a bank or who runs the banking business is known as a banker. Simply, who do banking is a banker. Person or institution that does banking activities directly is a banker. All persons relating to banking business is the banker.
Prof. G. Crowther: “A banker is a dealer in debts, his own and of other people.”
English Bills of Exchange Act-1882: “Banker includes a body of persons, whether incorporated or not, who carry on the business of banking.”
British Stamp Act-1981: “Any person carrying on the business of banking is a banker.
It appears from the above definition that a banker does three broad functions, namely:
- Acceptance of deposits,
- Lending money,
- Investment of money.
These are the principal functions of a banker, so any person, firm, entrepreneur, director, worker directly related with banking activities is said banker.
Banker inches a body of persons whether incorporated or not, who carry on business of Banking. The person or institutions or owner who manages the activities of banking business and manages all the functions related in banking activities is called a banker. Banker performs the activities with the customer on behalf of the bank.