The document discusses the structure of a financial system. A financial system consists of savers (individuals), intermediaries, markets, and investors (users of savings). Financial institutions collect savings through deposits and lend them to businesses. The main components of a financial system are commercial banks, cooperative banks, organized financial institutions, and unorganized financial institutions. Financial markets allow for the buying and selling of financial assets and services, and include money markets, bond markets, stock markets, and derivative markets. Financial instruments used to raise capital include shares, debentures, and bonds. Financial services include leasing, lending, factoring, merchant banking, credit ratings, mergers, and acquisitions. The development of a sophisticated financial system led to