1-Introduction: Meaning and Importance Of banks 

2-Importance of banks in the economy of country

The word bank is derived from a Latin word "Bancus" which means a bench upon which the early bankers, the Jews, used to transact their business in the market place. It is also said that German word "Banic" stands for "Joint Stock Fund". Banking has been present in different forms right from the beginning of human life. About three thousand years ago, there was a nation called "Sumerian" who started giving loans to the people. For the first time, the banks were established in "Venice" and "Genoa in 12th and 14th centuries. Whatever may ne the origin of the word and history of the bank, it is a fact that modern banking system is a huge organisation.

banks play significant role in the Economy of country. No country can flourish without banks. They provide funds on loans to meet the financial needs of the various sectors. They also provide money to government departments for their development projects. Such projects are often directly concerned with the country's economic progress. The banks collects money from the individual,business companies and many other sources. Banks keep the money in circulation. The money does not stop at one place.

• These banks also play role in international trade. They give advice to the importers and exporters about the economic conditions and trade restrictions in the overseas markets. The letter of credit is always opened at bank. The payments are made through banks. ((((((Picture source: Google)))))))
• Such operations are extremely important for the customers trading abroad.

Banks play role in the individual life of the people of a country by helping them in forming regular habits of saving money. They receive deposits and pay interest on them. Thus if the banks were not there, the savings of the masses would have been wasted. Banks also lend money to their customers. This is one of the primary functions of a commercial bank. It is the most profitable business also. The banks also offers "lockers" for the safety of the ornaments, bonds, cash, important documents and similar things of the people. The banks charge a little money for this service. They also obtain foreign currency for the people. They issue bank drafts and travelers chequers. The banks provide the facility of on-line banking. The ATM facility is also being provided by the banks.

 Banks  role in the individual  of the people of theforming foreign trade.