A study of customer relationship management in banking industry
EVOLUTION OF BANKING INSTITUTION
Banking operations have always been the backbone of the
economy. It provides for the most crucial factor of production i.e.
capital. Crowther elaborated on three ancestors of banking viz. the
merchant, moneylenders, and goldsmith. But, the face of banks and
banking operations has changed a lot over the past few years.
Banking has been in existence for a long in various forms and in
its crude form is an age-old phenomenon. It was in existence
even in ancient times. The activities of moneychangers in the
temples of Olympia and other sacred places in Greece took
around 2000 BC. "Traces of credit by compensation and by
transfer orders are found in Assyria, Phoenicia, and Egypt before
the system attained full development in Greece and Rome
(Macleod: Theory of credit). Revilpout, a French writer,
mentioned about bank arid bank notes in Babylon 600 BC.
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