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History and Types of Banking

Banks originated in ancient civilizations like Egypt and Mesopotamia where gold and other valuables were stored in temples for safekeeping. In 18th century BC Babylon, priests of temples began making loans, marking the earliest concept of banking. Banking further developed in ancient Greece starting in the 4th century BC where private individuals and public bodies undertook more sophisticated financial activities like accepting deposits, lending money, currency exchange, and testing coins.

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Sheetal Thomas
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47 views5 pages

History and Types of Banking

Banks originated in ancient civilizations like Egypt and Mesopotamia where gold and other valuables were stored in temples for safekeeping. In 18th century BC Babylon, priests of temples began making loans, marking the earliest concept of banking. Banking further developed in ancient Greece starting in the 4th century BC where private individuals and public bodies undertook more sophisticated financial activities like accepting deposits, lending money, currency exchange, and testing coins.

Uploaded by

Sheetal Thomas
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

MODULE 1

Origin and kinds of Banks


Unit and branch banking
Universal Banking
HISTORY OF BANKING
• 18th century BC

In early civilizations a temple is considered the safest refuge;


it is a solid building, constantly attended, with a sacred
character which itself may deter thieves. In Egypt and
Mesopotamia gold is deposited in temples for safe-keeping.
But it lies idle there, while others in the trading community
or in government have desperate need of it. In Babylon at the
time of Hammurabi, in the 18th century BC, there are
records of loans made by the priests of the temple. The
concept of banking has arrived.
Greek and Roman financiers: from the 4th
century BC
• Banking activities in Greece are more varied and
sophisticated than in any previous society. Private
entrepreneurs, as well as temples and public bodies, started
undertaking financial transactions. They take deposits,
make loans, change money from one currency to another
and test coins for weight and purity.

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