nature of financial system in India?

There are majorly 2 components of financial system one is formal financial system and another one is informal financial system. under the formal financial system there are 4 components

1)Financial Intermediaries

2)Financial Markets

3)Regulators

4)financial instruments

in informal financial system neighbours ,relatives,landlords,local trader are there

Financial system is a system used by organizationÕs management to exercise financial control and accountability. It allows transfer of money between savers and borrowers.

Government is an actor within a financial system and sometimes they create the financial system but government is not by itself a financial system unless there are not free markets of any sort.