Entity: BANKING
Banking refers to the business of operating a bank or managing money in bank accounts. It involves various financial activities such as lending, borrowing, and investing.
BANKING
Etymology
The term 'banking' originates from the Middle English word 'banke' which means a financial institution for storing and managing money.
Definition
Banking encompasses the business operations of a bank or banker, including managing financial transactions, providing loans, and facilitating monetary activities.
Historical Context
Banking has evolved over centuries, starting from simple money lending to complex financial services. The first banks originated in ancient civilizations like Mesopotamia and Egypt.
Cultural Significance
Banking plays a crucial role in modern economies, providing financial services to individuals, businesses, and governments. It influences economic growth, investment, and wealth distribution.
Related Concepts
- Finance
- Investment
- Financial Institutions
See Also
The term 'banking' encompasses the business operations of a bank or banker, including managing financial transactions, providing loans, and facilitating monetary activities.