What is financial institution: UPSC Daily Important Topic | 4 August 2022
What is financial institution
✓A financial institution is an umbrella term for a company dealing with financial and monetary transactions, including loans, deposits, and/or investments.
✓All India Financial Institutions (AIFIs) are regulated and supervised by the Reserve Bank of India.
Examples:
✓National Bank for Financing Infrastructure and Development (NaBFID)
✓Export-Import Bank of India (EXIM Bank)
✓National Bank for Agriculture and Rural Development (NABARD)
✓National Housing Bank (NHB)
✓Small Industries Development Bank of India (SIDBI)
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