Meaning and Concept of Financial services

1.1 Concepts of Financial services

Fiancial services are back bone of a nation’s economy. They play a crucial role in economuc development of a country. Therefore, a country’s economic growth ade development is dependent on financial services as they cater to the financial needs of people, Organisaitons, and governent. 

The financial sevices industry is considered to be the largest in the world in terms of revnue and business. It offers a wide range of business including banks, credit unions, merchant banks, stock brokerages, mutual funds, investment funds, insurance companies, credit card companies, real estate funds and some government sponsored entities. The industry does not only induce the saving tendency among the people but also promotes credit and investment in the country by providing various kinds of finacial services. There fore, finacial services play a key role in the success of a country economy as it caters to all financial requriemnts of the people. it also keeps the flow of th emoney active in the economy.  

There is major competition in financial markets due to enormity and scope. Tehre fore every organisation offercing financial services needs to be very focused and generous when it comes to customer satisfaction. Taking care of the customers financial needs and offercing best services can only make an organisation sustainable and successfule in the competitive financial market. There are various organisation deal in financial service in India, such as SBI capital markets limited, Bajaj Capital markets limited , ICICI group, LIC finance limited, L&T finance Limited and Karvy Group. Now lets understnad the meaning of Financial Services below. 

1.2 Meaning of Financial services

Financial services refer to services catering to the financial needs of people , organisaitons, and government of a country. These services are play an important role in growth of any economy, There fore, financial services offer diffrent kinds of finacial products, such as current accounts, Saving accounts, insurance and mutual funds, and industry deal in such products and services is known as financial service industry. The financial services industry maintain flows of money in the market by promoting loans, credits, savings and investmnet. Thre are a number of businesses offered by and dealt in financial services industry, such as credit unions, governmnent and commercial banks, merchant banks. real estate funds, Mutual funds, inverstment funds, stock brokerages, insurance companies credit card companies and some government sponsored entities. 

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2 thoughts on “Meaning and Concept of Financial services

  1. This is the right webpage for anyone who hopes to understand this topic. You realize so much its almost tough to argue with you (not that I actually will need toÖHaHa). You certainly put a brand new spin on a subject that has been discussed for many years. Excellent stuff, just wonderful!

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