Bantering -- bante + ring; bante - remember Banta Singh -- we read so many silly jokes on him. we can figure out Banta Singh as a funny person or a person who always does joking talks.
bantering=ban+tearing i.e ban tears and to ban tears we crack jokes and do joyful talks.
you can percieve it like banta(e)-(r)sing...which is good natured ridiculing..!!
Remember this as santa-banta jokes i.e., we crack jokes on them and hence the meaning.
remember chntu bantu talks in movie style