The 4 most common types of financial institutions are commercial banks, brokerage firms, insurance companies, investment banks.You can read about the Types of Non Banking Financial Institutions – Functions & Objectives in the given link.
Varied financial services are offered by financial institutions, such as, currency exchange, investments, deposits, loans etc. The two main categories of financial institutions are non-depository institutions, and depository institutions. To facilitate transactions between sellers and buyers is the main role of brokerage firms.
Further readings:
- NBFCs & IBC: RSTV – Big Picture Discussion on the RBI’s move to resolve NBFCs under insolvency law
- Insolvency And Bankruptcy Code (IBC) – IBC Amendment Bill 2021 [UPSC Notes GS III]
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