Tuesday, August 2, 2016

Which are called as financial intermediaries in the country?

Various ministries are functioning when it comes to Goverrnment of India; namely; Finance Ministry, Defence ministry, Home ministry etc.,

Finance ministry is headed by a minister for finance and the ministry deals with financial issues relating to the country and under finance ministry, there are several wings and economic affairs wing is one among such wings.

Under Economic affairs wing, there are three major entities called as financial intermediaries and they are as detailed below:

Reserve Bank of India:
Reserve Bank of India is called as the central bank for the country and RBI among all other functions, supervises the functioning of various banks in the country.

Insurance Regulatory and Development Authority:
Insurance Regulatory and Development Authority has been established specially for the purpose of supervising various insurance companies functioning in the country. Apart from overseeing the insurance functions, IRDA is also monitoring pension funds

Securities and Exchange Board of India:
Securities and Exchange Board of India supervises the capital markets functioning in the country. It regulates the entire capital market system and it provides various rules and regulations for the proper functioning of the various players in the capital market. 

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