The difference between Banquet and Reception

When used as nouns, banquet means a large celebratory meal, whereas reception means the act of receiving.

Banquet is also verb with the meaning: to participate in a banquet.

check bellow for the other definitions of Banquet and Reception

Banquet as a verb (intransitive):

To participate in a banquet; to feast.
Banquet as a verb (obsolete):

To have dessert after a feast.
Banquet as a verb (transitive):

To treat with a banquet or sumptuous entertainment of food; to feast.

Reception as a noun:

The act of receiving.
Reception as a noun (uncountable, electronics):

The act or ability to receive radio or similar signals.

Examples:

"We have poor TV reception in the valley."

"The new system provides exceptional quality of the reception signal."
Reception as a noun:

A social engagement, usually to formally welcome someone.

Examples:

"After the wedding we proceeded to the reception."
Reception as a noun:

A reaction; the treatment received on first talking to a person, arriving at a place, etc.

Examples:

"The ambassador's jokes met a cold reception."
Reception as a noun:

The desk of a hotel or office where guests are received.
Reception as a noun (UK, education):

The school year, or part thereof, between preschool and Year 1, when children are introduced to formal education.
Reception as a noun (law):

The conscious adoption or transplantation of legal phenomena from a different culture.