A history of bank and how does money control us? | Deaf talks History | Deaf talks NEWS

Word bank that has become an integral part of our lives from saving money, booking online tickets, taking a loan to any of the money related operations. Banks have become the bridge that connects us with money. How did they come into existence all of a sudden? Let's go back and see the banking history. The first banking system was started in Italy. In the Middle Ages around 1400AD, Italians used to carry out their commercial trading and transactions sitting on a bench. In Italian, the word Banco refers to a bench with the intervention of many clients and customers, the word Banco underwent changes and became a bank. But, banking system was started right in the Paleolithic age with the advent of barter system. People exchanged and traded goods they already had for things they needed. It was beneficial up to the point when people felt that they required a common commercial tool for trading. Reason gold was commonly used by everyone. People started using gold coins as a trading tool, which led to the birth of banks. The banks was mainly opened due to two kinds of people. The merchants and The goldsmith's Reason they do business. The traditional banking system was initiated through the concept of safe deposits, The merchants travelled all over the world. They needed a place to safeguard their gold coins. Reason they approach the goldsmiths to store the surplus (Extra) gold in their safety walls. This is how safe deposits came into existence. When the money was idle (importance) in the safety Ward, the goldsmith's started lending it to people earning an interest from it. Part of the profit to the merchants as an incentive, encouraging them to deposit more gold coins with him was engraved for the savings bank or deposit scheme in the latest stages. Plus, this is still considered to be one of the safest investment plans. These can be rightly called the stepping stones to the conventional banking system. The world's first bank is the Bank of St. George in Italy, which was founded in 1407, whereas Monte Paschi is the oldest surviving bank since its inception in 1472.Finally technological advancement, the whole banking process is now confined to small mediums like computers and mobiles, which is made banking a simpler process. Just click on your computer and you're into the money world in no time. So we hope you all like todays topic and next videos is more about banking system, different type of ATM Card. Thank you.......