Discussion
The statement "A Banker is a person or corporation which holds it self out to receive from the public, deposit payable on demand on cheque." is given by
Answer: D
Correct answer: Walter leaf
The definition quoted - a banker as a person or corporation holding itself out to receive deposits from the public payable on demand by cheque - is Walter Leaf's. It picks out the two features that distinguish a bank from any other institution taking money: the deposits come from the public generally, and they are withdrawable on demand by cheque.
That second element is what makes bank deposits function as money, since a cheque transfers purchasing power without cash moving. Findlay Shirras, Kinley and Hart each offered definitions of their own, differing in emphasis.
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development