Explain Evolution and Meaning of Bank.

1.	Explain Evolution and Meaning of Bank.
Answer» Evolution and Meaning of Bank: The word bank means ‘heap’ or ‘mass’. In Sanskrit, the word related to bank is ‘bhanda’ which means collection of fund. The word ‘bandol’ is derived from ‘bhanda’. The word bank originated from the Italian word ‘banca’ or from the French word ‘banque’. Both meant a ‘Bench’ for money exchange. European money lenders used to display coins of different countries on benches for the purpose of exchanging various coins. Thus, the word ‘bank’ came into use and is related to collection of fund or money. In Spain, the ‘Bank of Barcelona’ is known to be the first real bank established in the world in 1401.

Answer»

Evolution and Meaning of Bank:

The word bank means ‘heap’ or ‘mass’.
In Sanskrit, the word related to bank is ‘bhanda’ which means collection of fund.
The word ‘bandol’ is derived from ‘bhanda’.
The word bank originated from the Italian word ‘banca’ or from the French word ‘banque’. Both meant a ‘Bench’ for money exchange.
European money lenders used to display coins of different countries on benches for the purpose of exchanging various coins. Thus, the word ‘bank’ came into use and is related to collection of fund or money.
In Spain, the ‘Bank of Barcelona’ is known to be the first real bank established in the world in 1401.

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