Question

What is difference between banking and non banking intermediaries?

Answer 1

Answer:

Bank is a financial institution whose liabilities (i.e., deposits) are widely accepted as a means of payment in the settlement of debt. Non-bank financial intermediaries, on the other hand, are those institutions whose liabilities are not accepted as means of payment for the settlement of debt

#⃣✌❤#⃣✌❤#⃣✌❤#⃣