India’s financial services are growing due to customized financial solutions, higher disposable incomes, etc. Indian financial industry comprises several services that are not only limited to pension funds, wealth managers, stock-brokers. You will get to know some of the most popular types of financial services in India in this guide. The services are for a diverse client base which includes public organizations, private businesses, and even individuals. Continue to know them in detail.
Types Of Financial Services
The banking industry covers most of India’s financial services. It includes regional rural, private sector, foreign, public sector, urban/rural cooperative banks. Some of the popular segments of it include business banking, loans, and individual banking. These baking sectors are regulated or controlled by RBI or Reserve Bank of India. It maintains capitalization, financial health, and liquidity.
It offers investment services that comprise equity-linked assets, debt, and various asset classes. The debt and stock market products are famous in India as they have tax benefits, lower risks, diversification properties, and stable returns.
Financial services offer two types of insurances namely, life insurance, and general insurance. The former includes pension plans, money-back, term-life while the latter includes medical, fire, travel, home, automotive.
Insurance allows organizations and individuals to safeguard against accidents, circumstances.
Financial services offer segments that include instruments like mutual funds, derivatives, real estate, structured products, insurance products, debt, and commodities.
This segment contains investment solutions such as the Bombay stock exchange, and national stock exchange. The returns are depending on capital appreciation i.e., growth in value of dividends and equity solution. After that, payouts are made to respective investors.
It includes a large portfolio along with an auditing domain and tax domain. They are solely based on business clients and individual clients. Service providers provide solutions such as internal audits, tax audits, risk audits, transaction audits, in the auditing segment. Hence, the services ensure the smooth operation of various businesses.
It includes services to organizations so to bolster and respond to crises. For example, in case of liquidity crunch, bankruptcy, volatile markets, and hostile takeovers.
these are some of the most popular financial services in India. Depending on your need and wants, you can take advantage of any of those.