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What is the role payed by a financial intermediary in an economy?

Updated : June 27, 2018 07:17 AM IST

They offer their service during various financial operations including mutual funds, pension funds etc.
Their prime role is to channel surplus funds and capital from individuals to persons and institutions that are need of money.
One example for the activities of intermediaries can be seen in the role banks play in connecting borrowers and lenders.
What is the role payed by a financial intermediary in an economy?
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