Institutions that facilitate channelling of funds and all related functions are classified as

A. financial institutions

B. payable institutions

C. non-financial institutions

D. derivative institutions

Answer: Option A

Solution(By Examveda Team)

Institutions that facilitate channelling of funds and all related functions are classified as financial institutions. A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.