What is financial services and its types?

The Indian financial services industry comprises several key subsegments. These include, but are not limited to- mutual funds, pension funds, insurance companies, stock-brokers, wealth managers, financial advisory companies, and commercial banks- ranging from small domestic players to large multinational companies.

What is the meaning of financial services?

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual …

What are the importance of financial services?

Financial services ensure promotion of domestic as well as foreign trade. The presence of factoring and forfaiting companies ensures increasing sale of goods in the domestic market and export of goods in the foreign market. Banking and insurance services further contribute to step up such promotional activities.

What is financial services and its characteristics?

Features of Financial Services Financial services are Intangible. Financial services are customer oriented. The production and delivery of a service are simultaneous functions therefor are inseparable. They are perishable in nature and cannot be stored.

What are the features of financial services?

Features of Financial Services

Financial services are Intangible.
Financial services are customer oriented.
The production and delivery of a service are simultaneous functions therefor are inseparable.
They are perishable in nature and cannot be stored.

What are the important characteristics of financial services?

What are the three types of financial management?

Financial Management takes financial decisions under three main categories namely, investment decisions, financing decisions and dividend decisions.

Is accounting a financial services?

Accounting is another broad sector within the financial services industry. These provide accounting and auditing services to the majority of the largest publicly traded companies in the world.

It also means the management of money by organizations like banks, investment banks, insurance companies, and stock exchanges. Financial services help individuals and organizations in the management of their finance related problems. Financial services are intangible and customer-oriented.

What is the scope of financial services?

Financial Services are concerned with the design and delivery of financial instruments and advisory services to individuals and businesses within the area of banking and related institutions, personal financial planning, investment, real assets, insurance etc.

What is the importance of financial services to consumers?

Financial services enable the consumers to obtain different types of products and services by which they can improve their standard of living. Purchase of car, house and other essential as well as luxurious items is made possible through hire purchase, leasing and housing finance companies.

What are the different types of financial services institutions?

Financial Services Institutions 1 Commercial Banks (Banking) 2 Investment Banks (Wealth management) 3 Insurance Companies (Insurance) 4 Brokerage Firms (Advisory) 5 Planning Firms (Wealth management, Advisory) 6 CPA Firms (Wealth management, Advisory)