Hayat Ashraf

The financial system in the Indian economy comprises various institutions, markets, and intermediaries that facilitate the flow of funds between savers and borrowers. It plays a crucial role in mobilizing savings, allocating capital, facilitating investments, and supporting economic growth. Here's an overview of the financial system in the Indian economy: 1. Banking Sector:    a. Commercial Banks: Commercial banks are the major players in the Indian banking sector. They accept deposits from individuals and businesses and provide various financial services, including loans, credit facilities, and payment services.    b. Development Banks: Development banks, such as the Industrial Development Bank of India (IDBI), provide long-term financing and support for industrial and infrastructure projects.    c. Cooperative Banks: Cooperative banks are formed to serve the financial needs of specific groups or communities. They operate on a cooperative basis and provide...