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Development of INDIA
Banks have developed around 200 years ago. The natures of banks have
changed as the time has changed. The term bank is related to financial
transactions. It is a financial establishment which uses, money deposited
by customers for investment, pays it out when required, makes loans at
interest exchanges currency etc. however to understand the concept in
detail we need to see some of its definitions. Many economists have tried
to give different meanings of the term bank.