Relationship between financial system and economic development in india
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Financial system plays a key role in employment growth in an economy. Businesses and industries are financed by the financial systems which lead to growth in employment and in turn increases economic activity and domestic trade.
Explanation:
The economic development of any country is dependent on its financial system which includes its banks, stock markets, insurance sector, pension funds and a government-run central bank with authority. These sectors influence a nation's currency and interest rates.
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