Financial Services

Meaning, Nature, Types & Scope

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Service Sector in Indian Economy
Indian Economy

Primary Sector

Secondary Sector

Tertiary Sector or Service Sector

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Contribution of Service Sector in Indian Economy
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At the time of independence: In 2008Service Sector-55.1% Secondary-26.9% Primary-18.5%

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Growth in Service Sector
From 1947 to 1990-Increased by-21% From 1991 to 2008-Increased by-40% In 2008-09-6.7% In Q1(2009)-9.5%

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Financial Services

The Financial Services includes all Activities connected with the transformation of savings into investments. Financial Services facilitate and intermediate the financial transaction of individuals and institutions.

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Types of Financial Services
Financial Services

Fund or Assets Based services

Fee-Based Advisory Services
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Fund Based Financial Services
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Lease financing Hire purchase finance & customer Credit Factoring and Forfeiting Bill Discounting Housing Finance Insurance Services Venture Capital Financing
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Fee-Based Financial Services
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Merchant Banking Credit Rating Stock Brokerage Portfolio Management

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Special Features of Financial Services
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More Sophisticated Long Term in Nature Need More Advise Rapid Changes Necessity for Other Sectors

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Contemporary issues in Financial Services
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More Regulation More Support From Govt.

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