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Financial System: Meaning and Components

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Financial System: Meaning and Components

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Questions and Answers

What are the regulatory bodies that oversee the formal financial system in India?

Ministry of Finance (MoF), Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI)

Name three components of the informal financial system mentioned in the text.

Individual moneylenders, groups operating as funds or associations, partnership firms

What is one of the important functions of a financial system mentioned in the text?

Mobilize and allocate savings efficiently and effectively

How does a financial system help in monitoring corporate performance?

By selecting projects to be funded and inspiring operators to monitor performance Signup and view all the answers

What role does a financial system play in providing payment and settlement systems?

It provides a payment mechanism for exchange of goods and services Signup and view all the answers

What is one of the key functions of the informal financial system described in the text?

Mobilising and allocating savings efficiently Signup and view all the answers

Which type of individuals are mentioned as part of the informal financial system in the text?

Pawnbrokers Signup and view all the answers

How does a financial system promote growth on a sustained basis according to the text?

By facilitating continuous upgradation of technologies Signup and view all the answers

What role do financial markets and institutions play in monitoring corporate performance?

By exerting corporate control through hostile takeovers Signup and view all the answers

Which regulatory body oversees the formal financial system along with the Ministry of Finance and RBI in India?

Securities and Exchange Board of India (SEBI) Signup and view all the answers