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Question
Explain the following term/concept.
Banking
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Solution
- The term Bank comes from the French word ‘Banco’, which means a ‘bench’. In earlier days, money-lenders used to display coins of different currencies in big heaps on benches or tables for the purpose of lending or exchanging.
- A bank is a financial institution that deals with deposits, advances, and related services. A bank provides various services related to consumers' money and financial needs.
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