IFS Unit 4 Financial Services
Indian Financial System Financial Services Financial Services Meaning Financial services refer to services provided by the banks and financial institutions in a financial system. In general, all types of activities which are of financial nature may be regarded as financial services. In a broad sense, the term financial services mean mobilisation and allocation of savings. Thus, it includes all activities involved in the transformation of savings into investment. Definition The term financial services can be defined as “activities, benefits, and satisfactions, connected with the sale of money, that offer to users and customers, financial related value. within the financial services industry the main sectors are banks, financial institutions, and non-banking financial companies. C haracteristics or Nature of Financial Services The following are the characteristics of financial services, 1. Intangibility: Financial services are intangible. ...