BANKING AFFAIRS

Detailed explanation-1: -Examples of nonbank financial institutions include insurance firms, venture capitalists, currency exchanges, some microloan organizations, and pawn shops. These non-bank financial institutions provide services that are not necessarily suited to banks, serve as competition to banks, and specialize in sectors or groups.

Detailed explanation-2: -Insurance corporations are financial intermediaries which offer direct insurance or reinsurance services, providing financial protection from possible hazards in the future.

Detailed explanation-3: -Non-Bank Financial Intermediaries (NBFIs) is a heterogeneous group of financial institutions other than commercial and co-operative banks. They include a wide variety of financial institutions, which raise funds from the public, directly or indirectly, to lend them to ultimate spenders.

Detailed explanation-4: -This sector includes retailers, manufacturers, utilities, business service providers (such as accountancy and law firms), caterers, haulage companies, airlines, construction companies and farms, among others.