rag vs banter

rag and banter both are nouns.

Word	Noun	Adjective	Verb	Adverb
rag	Yes	No	Yes	No
banter	Yes	No	Yes	No

As verbs, banter is a hyponym of rag; that is, banter is a word with a more specific, narrower meaning than rag:

Other hyponyms of rag include barrack, flout, gibe, jeer, scoff, chaff, jolly, josh, kid.

rag (noun)	banter (noun)
a boisterous practical joke (especially by college students)	light teasing repartee
a small piece of cloth
newspaper with half-size pages
music with a syncopated melody (usually for the piano)
a week at British universities during which side-shows and processions of floats are organized to raise money for charities

rag (verb)	banter (verb)
break into lumps before sorting	be silly or tease one another
censure severely or angrily
harass with persistent criticism or carping
play in ragtime
treat cruelly
cause annoyance in; disturb, especially by minor irritations