A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as

A financial institution established for the purpose of providing specialized services like acceptance of bills of exchange and equipment leasing is known as a Merchant Bank. Merchant banks are financial institutions that specialize in trade and commercial finance. They provide services such as corporate finance, project appraisal, investment advisory, and underwriting of securities. They also offer specialized financial services such as bill discounting, acceptance of bills of exchange, equipment leasing, and project counseling.