What is the primary function of the financial system as described in the text?

To provide a link between savings and investment for the creation of new wealth.

To regulate the economy's price levels.

To control the flow of foreign investments.

To promote government interference in financial activities.

What is the role of the Reserve Bank of India (RBI) in the Indian financial system?

To provide investment banking services.

To govern the cooperative banking sector.

To protect the interests of investors in securities.

To act as the central bank and regulate commercial banks.

What was the main goal of financial sector reforms in India in 1992-93?

To increase government interference in the financial system.

To reduce the number of financial institutions.

To make the financial system more market-oriented.

To regulate the foreign exchange market.

What does the term "money market" primarily refer to in the financial system?

The market for buying and selling physical currency.

A place where long-term funds are borrowed and lent.

A reservoir of short-term funds for lending and borrowing.

The market for trading government securities.

What is the main purpose of the cooperative banking sector in India?

To serve as an intermediary for foreign investments.

To provide long-term credit to farmers for developmental purposes.

To offer investment banking services.

What are the two broad groups that the Indian financial system is classified into?

Public sector and private sector.

Organized sector and unorganized sector.

Commercial banks and cooperative banks.

Investment banks and development banks.

What is the primary function of the primary cooperative credit societies in India?

To provide long-term credit to farmers.

To offer investment opportunities in the stock market.

To lend money for industrial development.

To provide short-term loans for agricultural needs.

What does the term "indigenous banking" refer to in the context of India's financial system?

Banking practices originating from foreign countries.

Banking practices of multinational corporations.

Traditional banking practices with deep historical roots in India.

Banking practices regulated by the Reserve Bank of India.

What was the main goal of liberalization in the Indian financial system in 1992-93?

To increase government control over financial institutions.

To reduce competition among financial institutions.

To make the financial system more market-oriented and efficient.

To restrict foreign investments in India.

What is the primary role of financial institutions in the Indian financial system?

To provide investment opportunities for individuals.

To increase the efficiency of resource use.

To control the flow of foreign investments.

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