what is the differnce between financial institution and banks?

Question

plz tell me are they differnt. nd why are they use interchangebly? do they play any role in economy development

Answer 1

In india financial institutions are referred to as those development financing institutions, such as IDBI, IFCI andn ICICI and state level instittuions. The important difference between financial institutions and banks are that banks only can issue cheque books to draw money form the account.

Answer 2

Financial institutions provide service as intermediaries of financial markets. They are responsible for transferring funds from investors to companies in need of those funds. Financial institutions facilitate the flow of money through the economy. Banks tend to have a lot of old websites still active on the internet that simply aren't in use anymore. Trying to navigate though the web of bad or obsolete websites and broken links can be a huge headache when you are simply trying to check your finances. Search our site here for the financial institution or card name you are having trouble with and we will have the exact current links you will need and step by step instructions to go along with them.

Answer 3

financial company: A financial company that accepts deposits and channels the money into lending events. financial company: an company (public or inner maximum) that collects money (from the popular public or different establishments) and invests them in financial materials.

Answer 4

I think "financial institution" is a broader definition and includes savings and loans, credit unions, and possibly investment brokerage houses.

Answer 5

financial institutions are learning centres
banks are useful for public

Answer 6

all banks are financial institutions but all financial institutions are not banks