ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The word bank is derived from the Italian word Banco or from a French word Banque, which means a bench or money exchange table.

Detailed explanation-2: -The word bank was borrowed in Middle English from Middle French banque, from Old Italian banca, meaning “table", from Old High German banc, bank “bench, counter".

Detailed explanation-3: -Origin Of The Word “Bank” The word bank likely comes from the Italian word for Bench “banco”, as the first banks were benches in Italian trading centers.

Detailed explanation-4: -Whereas Germans say that the word “Bank” has been derived from the German word “Back” which means joint stock of Money”. When the German dominated a big part of Italy, the word “Back” was converted into Italian word “Banco”, all of which mean a bench (device to sit on).

Detailed explanation-5: -bank 1. / (bæŋk) / noun. an institution offering certain financial services, such as the safekeeping of money, conversion of domestic into and from foreign currencies, lending of money at interest, and acceptance of bills of exchange. the building used by such an institution.