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It is difficult to give a definite account of the origin of term ‘Bank’. The literary
meaning of the ‘Bank’ is the storage of particular things, treasury, even this term is used as long table.
According to some economists the term ‘Bank’ is originated from the
ancient Latin words Banco, Banak, Banque, Bancus etc. According to the followers of this opinion the Latin meaning of the term ‘Bank’ is bench or long table used for sitting on, its support is found in the pages of history.
In the economic history of middle age it is found that some people of the Lombardy Street in Italy used to run the business of depositing, lending and borrowing money using a long tool or bench. So, more supports are found on the Latin origin of the term ‘Bank’.
To give the definition of bank we can say that bank is a financial institution which collects the deposits from people against interest and makes investment for earning profit and is bound to return the money to the depositors at the moment they ask or after a fixed time. According to Oxford Dictionary, “Bank is a safe organization for depositing, withdrawing and giving loan”. Therefore, the term ‘Bank’ gives the elaborate concept about the banking activities. It means all the legal activities of bank are known as banking.
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6 Comments. Leave new
A very short article, indeed, good efforts. Keep writing. Don’t let your morale come down.
Nice article
Good article.
An apt definition. Good research on the history.
Short but well written..
Very short article 😀
I didint get what you were going to express :Dwith this 😀 as the topic was really attractive but the content was little but disapointing 🙁 ..
Heard your blogs they are very much Good 😀
You could have incresed the word count good work 😀