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How Loan System Invented/Discovered 🤔
Understand in a simple way
You too must have taken a loan from a bank at some point, and if not, then maybe someone in your family has.
Well, that's something related to need.
But do you know how the loan system actually originated?
I won’t talk about every country, right now I’m only referring to my own country…India.
Though if we look at it, the loan system evolved in almost the same way across countries.
This dates back to when the United Kingdom ruled over India and governed the nation.
We adopted many of their rules and regulations, and even today, many sectors still operate under systems they introduced.
Like the education policy, banking system, and job structure. though now efforts are being made to change some of these.
But the UK also gave us many good things,one of them is the banking system.
In ancient times, there used to be the barter system
This system involved the exchange of goods. take one item and give another in return.
Now, many times the person you wanted to trade with already had the item you were offering. So, this system…
