The financial services industry manages money for individuals and corporations. It comprises such organisations
as commercial and investment banks, insurance companies, hedge funds, credit-card companies, consumer
finance firms, accounting agencies, and brokerage firms. The industry’s services are mainly related to banking
and insurance services, asset management, investments, foreign exchange, and accounting.
Financial services form the lifeblood of economic growth and development. They facilitate the setting up of big
and small businesses and the expansion of businesses. Employment and entrepreneurship created with the help
of the services enable people to earn and save.
However, financial services have largely eluded the poor and small and micro units, and there is great potential
to extend the services to the informal sector, too. Perhaps, the future of the financial sector lies here.
10 Types of Financial Services Offered in India
• Banking.
• Professional Advisory.
• Wealth Management.
• Mutual Funds.
• Insurance.
• Stock Market.
• Treasury/Debt Instruments.
• Tax/Audit Consulting.
