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Anchoring Matter for Fresher Party

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Anchoring Matter for Fresher Party

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  • November 2012
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Meaning of Bank
It is generally said that the word “BANK” has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. To meet the war expenses, the government of that period imposed a forced subscribed loan on citizens of the country at the interest of 5% per annum. Such loans were known as Compara, Mintuo etc. The most common name was Monte. In Germany the word Monte was named as Bank or Banke. According to some writers, the word Bank has been derived from the word Banke. It is also said that the word Bank has been derived from the word Banco which means a banch. The Jews money lenders in Italy used to transact their business sitting on banches at different market places. When any of them used to feel to meet his obligations, his banco or banch would be broken by the angry creditors. The word Bankrupt seems to be originated from broken banco. Since, the banking system has been originated from money lending business, it is rightly argued that the word Bank has been originated from the world banco. Today the word bank is used as a comprehensive term for a number institutions carrying on certain kinds of financial business. In practice, the work Bank means which borrows money from one class of people and again lends money to another class of people for interest or profit. Definition of a Bank

Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out on customer's order." Definition of banking
In general terms, the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit.

Read more: http://www.investorwords.com/5413/banking.html#ixzz27ewFzo5g

Characteristics / Features of a Bank ↓
1. Dealing in Money
Bank is a financial institution which deals with other people's money i.e. money given by depositors. 2. Individual / Firm / Company
A bank may be a person, firm or a...
Meaning of Bank
It is generally said that the word “BANK” has been originated in Italy. In the middle of 12th
century there was a great financial crisis in Italy due to war. To meet the war expenses, the
government of that period imposed a forced subscribed loan on citizens of the country at the
interest of 5% per annum. Such loans were known as Compara, Mintuo etc. The most common
name was Monte. In Germany the word Monte was named as Bank or Banke. According to some
writers, the word Bank has been derived from the word Banke.
It is also said that the word Bank has been derived from the word Banco which means a banch.
The Jews money lenders in Italy used to transact their business sitting on banches at different
market places. When any of them used to feel to meet his obligations, his banco or banch would
be broken by the angry creditors. The word Bankrupt seems to be originated from broken banco.
Since, the banking system has been originated from money lending business, it is rightly argued
that the word Bank has been originated from the world banco.
Today the word bank is used as a comprehensive term for a number institutions carrying on
certain kinds of financial business. In practice, the work Bank means which borrows money from
one class of people and again lends money to another class of people for interest or profit.
Definition of a Bank
Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out
on customer's order."
Definition of banking
In general terms, the business activity of accepting and safeguarding money owned
by other individuals and entities, and then lending out this money in order to earn a
profit.
Read more: http://www.investorwords.com/5413/banking.html#ixzz27ewFzo5g
Characteristics / Features of a Bank ↓
1. Dealing in Money
Bank is a financial institution which deals with other people's money i.e. money given by
depositors.
2. Individual / Firm / Company
A bank may be a person, firm or a company. A banking company means a company which is in
the business of banking.
3. Acceptance of Deposit
A bank accepts money from the people in the form of deposits which are usually repayable on
demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It
also acts as a custodian of funds of its customers.
4. Giving Advances
A bank lends out money in the form of loans to those who require it for different purposes.
5. Payment and Withdrawal