Bank" is gotten from the Greek word "Banque which means seat. The Jews, who were viewed as the early brokers, executed their business on seats in the market. According to a few financial expert, the word bank has been gotten from the German word "Banc" which means Joint Stock Firm, while other say it is gotten from the Italian word "Banco" which means pile or mound.'There is no unanimity among business analyst about the beginning of the word banks. Accordingly, it is hard to say which definition is more correct. Conversely, the view that the word bank begun from the word Banc or Banco, is by all accounts really persuading, as it is utilized in the foundation of the Bank of Venice, which should be the most old bank. In India, banking can be followed back to Vedic period. This can be affirmed by the way that the extraordinary legal adviser Manu has expounded on store propels furthermore, interest. During Mughal period, the native investors helped in the advancement of exchange and trade. These native brokers financed dealers by loaning cash. Afterward, during the times of East India Company, the banking business was taken over by the office houses. In 1947, at the hour of India's autonomy the nation had a well set up business banking framework. The establishment of business banking was laid in Indian during the early piece of the nineteenth century with the foundation of three administration banks -Bank of Bengal in 1806, Bank of Bombay in 1840 and Bank of Madras in 1846. With the foundation of Presidency Banks, the office houses which were doing banking business as well as exchanging lost their financial job. By the start of the 20th century, there were 9 Joint stock banks, what's more, their stores were Rs. 314.5 millions as it were. At the point when India achieved freedom, it had 584 Joint stock banks and 531 Co-employable banks in expansion to the Imperial Bank of India, which was shaped by blend of three administration banks. With this, the need was felt to have a precise development of banking in India. To accomplish this evenhanded, the Reserve Bank of India which, was set up in 1935, as a private investors bank, was nationalized in 1949.