Concept of Bank:
The word lender has descends from the word вЂBanchiвЂ™. The traders of Italy who performed the job of exchanging money were known as Banchi or Bancheri because the table which they used for making payment was called a Banchi in olden days.
Relating to some men and women, the definition of lender comes from the Greek word вЂBanque.вЂ™
A lender discounts in cash into the way that is same a businessman discounts in products. Banking institutions tend to be businesses which deal in money, monetary tools and supply financial solutions for a cost known as interest, discount, percentage etc.
After tend to be mentioned some prominent meanings of lender:
(1) вЂњBanking may be the business of accepting for the true purpose of providing or financial investment, of deposits of income from the community repayable on demand or perhaps and withdraw-able by cheque, draft, and purchase or elsewhere.вЂќ Indian Banking Regulation Act, 1949
(2) вЂњA lender can be a organization whose major businesses are involved using the buildup for the briefly idle cash associated with the public that is general the objective of advancing to other individuals for expenditure.вЂќ-R.P.