Question

What is the role of Financial and Non-Financial institutions in
development?

18 Aug 2026
Answer :
Word Count : 481
Financial and non-financial institutions play a crucial role in the process of development, particularly in shaping the economic, social and spatial structure of urban areas. In the context of urban development, these institutions provide resources, services, knowledge and governance mechanisms that support infrastructure creation, employment generation, poverty reduction and improvement in the quality of life. Financial institutions include commercial banks, cooperative banks, development finance institutions, microfinance institutions, insurance companies and other formal financial organisations. Their major role is to mobilise _______ ____ __________ ________ _________ ______ ___ ____ _________ _____ __________ ____.
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