Question

Discuss the role of financial institution in an economy​

Answer 1

Financial institutions will play a major role in economical growth.

Explanation:

• Their major role is that they will bridge the gap between the savings, investment, and their borrowers.
• In banks, they also guide the people about their existing funds and also provide them loan and credit details for future use.

• Financial institutions have the functions of savings, net worth, wealth holdings, and so on so.

• They also provide the customers and commercial clients with good services and different types of banking systems.

Answer 2

Answer:

Financial institutions play a pivotal role in every economy. They are regulated by a central government organization for banking and non-banking financial institutions. These institutions help in bridging the gap between idle savings and investment and its borrowers, i.e., from net savers to net borrowers.

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Explanation:

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