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Banking in India originated long ago.there are evidences of giving loans to others eve during Vedic periods.banking was synonymous with money lending.
The Manusmrithi speaks of deposits,pledges,loans and interest rates.money lenders and Indigeneous bankers bankers played an important part in the Indian society as purveyors of money and credit from times immemorial.
The money lenders provided loans to people in times of need mainly for consumption purpose while the Indigeneous bankers extended credit for financing trade and industry.
The Indigeneous bankers were for long the trusted custodians of the deposits of the people and the royalty besides meeting the requirements of of royal treasuries,they were the main sources of finance
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8 Comments. Leave new
Too short!
Nice work..!
Interesting and informative article
Too short.. Have to add many more info.
could have added more but still nice:);)
Interesting Article!!!
Short but informative !
nice but could have been more brief