A banyan (also banian) is a fig that starts its life as an epiphyte
when its seeds germinate in the cracks and crevices on a host tree (or
on structures like buildings and bridges). "Banyan" often refers
specifically to the Indian Banyan or Ficus benghalensis, the National
tree of India,  though the term has been generalized to include all
figs that share a unique life cycle, and systematically to refer to
the subgenus Urostigma ... The name was originally given to F.
benghalensis and comes from India where early travellers observed that
the shade of the tree was frequented by banias or Indian traders.

In the Gujarati language, banya means "grocer/merchant," not "tree."
The Portuguese picked up the word to refer specifically to Hindu
merchants and passed it along to the English as early as 1599 with the
same meaning. By 1634, English writers began to tell of the banyan
tree, a tree under which Hindu merchants would conduct their business.
The tree provided a shaded place for a village meeting or for
merchants to sell their goods. Eventually "banyan" became the name of
the tree itself.

http://en.wikipedia.org/wiki/Banyan
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