Which of the following statement is are true about Financial sector of India 1 Financial sector is t...........

Finance (Phase -I & II) Banking and Financial system in India

Which of the following statement is/are true about Financial sector of India?

1. Financial sector is the backbone of any economy and it plays a crucial role in the mobilization and allocation ofresources.

2. Financial system of any country consists of financial markets, financial inter-mediation and financial instruments or financial products.

only 1

only 2

Both 1 and 2

Neither 1 nor 2

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Explanation:

Financial sector of India – An overview
1. Financial sector is the backbone of any economy and it plays a crucial role in the mobilization and allocation ofresources.
2. Financial system of any country consists of financial markets, financial inter-mediation and financial instruments or financialproducts.