Question

❤❤❤❤❤Hello friends!!!!!❤❤❤❤ Today's question is History of trade and commerce
And
Indigenous banking system
plz answer this question

Answer 1

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Introduction Part :-


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Answer 2

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A country’s development can be achieved only through economic growth
which is dependent on the prevailing financial system. The role played by the
adopted ‘Financial System’ is crucial and it intermediates between the flow of
funds belonging to those who save a part of their income and those who invest in
productive assets. The major function of the financial system is provision of
money and monetary assets for the production of goods and services1
. A strong
financial system is crucial to fulfill the objective of strengthening the real
economy and for its healthy and orderly growth.
Financial system is a complex, well-integrated set of sub-systems of
Financial Institutions, Markets, Instruments and Services which facilitates the
transfer and allocation of funds, efficiently and effectively. The formal financial
system consists of four segments or components namely – (1) Financial
Institutions, (2) Financial Markets, (3) Financial Instruments and (4) Financial
Services. These constitute the financial system and act as a conduit for the
transfer of financial resources from net savers to net borrowers i.e. from those who
spend less than they earn to those who earn more than they spend

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