bank
A bank is an institution, which deals with money, receiving it on deposit from customers, honoring customer’s drawings against such deposit on demand, collecting cheque for customers and lending or investing surplus deposits until they are required for payment.
In Thompson’s dictionary of banking, it is stated that the Word Bank is said to be derived from the Italian Word “Banco” which means a Bench, the early bankers, the Jews in Lombardy, transacted their business at benches at market place. One of the earliest Italian Banks, The Bank of Venice, was originated for the management of a public loan, or “Monte”, as it was called. In England, banking and its origin with the London goldsmith who in the 17th century began to accept deposits from merchants and others for safe keeping money and other valuables. According to ‘Crowther’, modern banking has three ancestors.
* The Merchants * The Goldsmith * The Money Lender
As public enterprises, banking made its first appearance in 1157 the bank of Venice was founded. Following its establishment a lot of banks in different place of the World were established. They are Bank of Barcelona in 1401, Bank of Geneva in 1407, and Bank of Amsterdam in 1609. These modern banks gradually replaced goldsmith, merchants and moneylender. After the evolution of “The Bank of England” in 1694 A.D, there comes a remarkable change in the process of establishing the banking institution. The idea of CB’s rapidly spread all over the world only after the foundation of this bank. After the re-establishment of democracy the liberal and market oriented economic policy has been adopted. Consequently a number of joint venture banks have been increased. “A joint venture bank is the joining of forces between two of more enterprises for the purpose of carrying and a special operating.” In Nepal up to now, there are 13 joint venture banks
In Thompson’s dictionary of banking, it is stated that the Word Bank is said to be derived from the Italian Word “Banco” which means a Bench, the early bankers, the Jews in Lombardy, transacted their business at benches at market place. One of the earliest Italian Banks, The Bank of Venice, was originated for the management of a public loan, or “Monte”, as it was called. In England, banking and its origin with the London goldsmith who in the 17th century began to accept deposits from merchants and others for safe keeping money and other valuables. According to ‘Crowther’, modern banking has three ancestors.
* The Merchants * The Goldsmith * The Money Lender
As public enterprises, banking made its first appearance in 1157 the bank of Venice was founded. Following its establishment a lot of banks in different place of the World were established. They are Bank of Barcelona in 1401, Bank of Geneva in 1407, and Bank of Amsterdam in 1609. These modern banks gradually replaced goldsmith, merchants and moneylender. After the evolution of “The Bank of England” in 1694 A.D, there comes a remarkable change in the process of establishing the banking institution. The idea of CB’s rapidly spread all over the world only after the foundation of this bank. After the re-establishment of democracy the liberal and market oriented economic policy has been adopted. Consequently a number of joint venture banks have been increased. “A joint venture bank is the joining of forces between two of more enterprises for the purpose of carrying and a special operating.” In Nepal up to now, there are 13 joint venture banks
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