The Different Types of Financial Services Safe & Innovative Investment Plan 30Lac on Retirement &15K pm Pension

Money is indispensable in almost all aspects of living. We use money to buy our needs and necessities. Yet there are things and instances when we need more money for other equally significant aspects of life like investing in a business or building a home. It is at such times when we would need appropriate financial services from corresponding institutions and professionals likefinance brokers for mortgages. Financial services are of varied types. These services are provided by different businesses whose transactions involve management of money such as banks, credit card firms, investment companies, insurance companies and some government agencies. Banks are among the major providers of financial services. The general function of a bank is to provide their clients with a secure and safe place to store and deposit their money. What the banks do with their clients money is to put these into guaranteed investments for profits. The clients will also be paid a little interest for their checking or savings

accounts. Banks also offer other financial services like loans, checks, mortgages and credit cards. They also offer foreign currency services like currency exchange, wire transfer and foreign money banking. Anyone who needs such services may directly approach the bank for inquiries or may ask assistance from people mire knowledgeable in the field such as finance or personal loan brokers. These financial service assistants will help determine your needs and find the most appropriate services for you. They have contacts and access to various services and institutions so your chances of obtaining your needed financial services are higher. Banks are also of different types based on their operations. There are those operating as private banks. Their services are limited only for people who have high amount of net worth (difference between owned and owed properties). A client must meet the required net worth to qualify for the banks services. Yet compared to other retail banks, private banks have a lot of other services to offer their clients including tax planning and wealth management. Another type of financial service is an investment service. Firms offering such services give assistance to an individual or an entity who wish to invest on funds, shares or stocks. Typically, the investor would place his money to the service and rely on the firm to manage the investment and ensure its gain. The firms offering investment services may also offer professional consultation and advice to investors for a certain cost. Insurances and insurance plans are financial services for which an insurance broker may help you with. There are different types of insurances and the broker you will hire will help you find the most suitable plan and insurance provider for your needs.

Credit card services are also among the most commonly used financial services in the society. As you know, when you use a credit card to purchase something, the credit card firm will charge a high interest on this money you have literally borrowed to pay for your purchases. Some other types of financial services are equity funds, venture capital and expert advice on financial matters.

Top 10 financial services companies in India The financial system of a country has a great impact on the economy with financial services companies responsible for the robust economic growth. There has to be a direct link between the regulatory institutions and the intermediary institutions while determining the financial system of a country. Financial services provided by finance companies include insurance, housing financing, mutual funds, credit reporting, debt collection, stock broking, portfolio management, and investment advisory. List of top 10 financial services companies in India

Find below a comprehensive list of top financial services companies in India. SBI Capital Markets Limited:

This happens to be the oldest organizations in the sphere of capital markets in India. Established in 1986 in the form of

an ancillary of SBI, they have ranked second in Asia's Project Advisory services. The company is a traiblazer in privatization and securitization. The subsidiaries of SBI Capital Markets are SBICAPs Ventures Ltd., SBICAP Trustee Co.Ltd. and many others. Bajaj Capital Limited:

One of the major financial services companies in India, Bajaj Capital offers best investment advisory and financial planning services. The services are meted out to the institutional investors, NRIs, corporate houses, individual investors, high network clients as well. DSP Merrill Lynch Limited:

A major player in the equity and debt market in India, DSP Merrill Lynch offers financial advises to varied corporations and institutions. With an array of wealth management and investor services, their services are customized in a manner that they meet every investor requirement. Birla Global Finance Limited:

The subsidiary of Aditya Birla Nuvo Ltd., this company has operations in the corporate finance and capital market arena. An alliance with Sun Life Financial of Canada, they have given birth to Birla Sun Life Insurance Co Ltd., Birla Sun Life Distribution Co. and alike. Housing Development Finance Corporation:

A best financial solution for home loans, NRI loans, HDFC is the one stop destination for personal finance. With overseas branches in Singapore, Kuwait, Qatar, Saudi Arabia and

many others, HDFC has been going great guns every year. PNB Housing Finance Limited:

This company offers premium solutions for relieving the borrower segment. The Home Loan Life Insurance Plan of this has come in conjunction with TATA AIG, with the lowest premium when compared to the peers. ICICI Group:

Wide arena of financial products and services, ICICI Group has solutions like InstaBanking, Online Trading, Insta Insure, ICICI Bank imobile etc. Providing high class financial services in all segments of the society, ICICI Group deals with Mutual Fund, Private Equity, Securities, and Life Insurance etc. LIC Finance Limited:

It is the biggest Housing Finance Company in India, providing finance to individuals for repair or construction or renovation of any old or new apartment or house. L&T Finance Limited:

Established in 1994 by the Larsen and Turbo group, this has become a significant name in the financial sector. Funds for automobiles, Agricultural Instruments, secured loans; they have all types of loans for a long tenure. Karvy Group:

With Mutual Funds Services, Depository Services, Debt Market Services, Investment Banking and many others,

Karvy Group has spanned across the domestic financial sector as well as abroad.

INDIAN FINANCIAL SERVICES OVERVIEW The Indian financial services sector is one of the most complex, yet one of the most robust service segments of the Indian economy. Spanning from insurance to capital markets, banking to foreign direct investments (FDI) and from mutual funds to private equity (PE) investments, the financial services sector covers all related segments under its umbrella. Having major effects in its abstract as well as physical form post liberalisation, the financial services segment is undoubtedly the mainstay of Indian economy. Today it is at par with the international financial frameworks and promises to surpass them in terms of performance in the years to come. This is very much evident from the fact that Indian financial services industry was amongst the least affected during the crisis the world faced in 2010-11. Major developments pertaining to the sub-segments of Indian financial services industry are discussed hereafter. Insurance Sector

Indian life insurance sector collected new business premiums worth Rs 11,742.7 crore (US$ 1.96 billion) for April-May 2013, according to data from the Insurance Regulatory and Development Authority (IRDA). Life insurers collected Rs 1, 07, 010.7 crore (US$ 17.84 billion) worth of new premiums for the financial year ended March 31, 2013 Meanwhile, the general insurance industry grew by 19.6 per cent in April-May period of FY14, wherein the nonlife insurers collected premium worth Rs 13,552.46 crore (US$ 2.26 billion)

Banking Services

According to the Reserve Bank of India (RBI)s Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks, September 2012, Nationalised Banks accounted for 52.0 per cent of the aggregate deposits, while the State Bank of India (SBI) and its Associates accounted for 22.3 per cent. The share of New Private Sector Banks, Old Private Sector Banks, Foreign Banks, and Regional Rural Banks in aggregate deposits was 13.6 per cent, 4.8 per cent, 4.3 per cent and 2.9 per cent, respectively Nationalised Banks accounted for the highest share of 50.9 per cent in gross bank credit followed by State Bank of India and its Associates (22.1 per cent) and New Private Sector Banks (14.7 per cent). Foreign Banks, Old Private Sector Banks and Regional Rural Banks had shares of around 4.9 per cent, 4.9 per cent and 2.6 per cent, respectively India's foreign exchange (forex) reserves stood at US$ 280.167 billion for the week ended July 5, 2013, according to data released by the central bank. The value of foreign currency assets (FCA) - the biggest component of the forex reserves stood at US$ 252.103 billion, according to the weekly statistical supplement released by the RBI

Mutual Funds Industry in India Indias asset management companies (AMCs) have witnessed growth for the fifth consecutive quarter wherein their average assets under management (AUM) during AprilJune 2013 increased by 3.68 per cent. The AUMs value touched a new high of Rs 8.47 lakh crore (US$ 141.17

billion), according to the latest statistics available from industry body Association of Mutual Funds in India (AMFI). Private Equity, Mergers & Acquisitions in India

Private equity (PE) firms upped their investments in India Inc by a hefty 42 per cent to US$ 5.4 billion through 197 deals during the first half of 2013; major deal being the US$ 1.2 billion-BhartiAirtel deal, according to a report by EY India (formerly Ernst & Young). Meanwhile, Merger and acquisition (M&A) activity in India was also quite intense in April-June 2013 period. The deal tally stood at US$ 10.9 billion across 130 transactions, according to global deal tracking firm Mergermarket.

Foreign Institutional Investors (FIIs) in India

Foreign investors have immense faith in Indian financial markets. The fact is substantiated through statistics which show that they pumped massive US$ 10 billion in Indian markets in January-March 2013 quarter. Moreover, FII ownership in top 500 companies is highest at 21.2 per cent for the reported quarter. It increased by 1.28 per cent in the January-March quarter alone and 2.87 per cent in 2012-13. The number of registered FIIs in India stood at 1,757 in FY 2012-13 while the number of FII sub-accounts rose to 6,335, from 6,322 at the end of 2011-12.

Financial Services in India: Recent Developments

Tata Communications 100 per cent subsidiary Tata Communications Payment Solutions (TCPS) has launched Indias first white label ATM (WLA) at

Chandrapada, a tier-V town near Mumbai. The WLA has been branded 'Indicash' by the company. TCPS already operates about 27, 000 ATMs for 37 banks in India. Meanwhile, US-based Customers Bancorp Inc (CUBI) has plans to infuse US$ 51 million in multiple securities of Religare Enterprises Ltd. Religare is currently aspiring for a banking licence to enter the banking industry. The investments will take place through a combination of primary and secondary market transactions.

Financial Services: Government Initiatives

The Finance Ministry has constituted a standing council of experts to assess the international competitiveness of the Indian financial sector. The council, to be headed by the Secretary, Department of Economic Affairs, will analyse various monetary and non-monetary transaction costs (of doing business in the Indian market), and make recommendations for improving its competitiveness. The council will also examine related policies and operating frameworks and the performance of various segments of the Indian capital market. It will also study and suggest possibilities for reform measures aimed at improving transparency, promoting development and strengthening governance in the Indian capital markets, while ensuring that risks are limited and investor interests are sustained. Also, the RBI has, for the time being, relaxed the norm that stipulates non-banking finance companies (NBFCs) to have a minimum gap of six months between two non-

convertible debentures (NCDs) issues. The move is aimed at streamlining the process of moving into a more robust asset-liability management framework in a non-disruptive manner.

Foreign investments fuel Indian financial markets in a big way. Experts believe that India has fared really well over the past few years and the similar macroeconomic trends would continue in 2013. This would result in steady FII equity flows that would enhance stock valuations, strengthen investment cycle, and sustain consumption growth (especially at lowincome levels). Moreover, portfolio fund flows are anticipated to be higher in 2013 than those in 2012, on the back of Government reforms like passing bills that would escalate foreign investment limits in insurance, having a uniform goods and services tax, and reconciling subsidies. Moreover, with the Parliament passing the much awaited Banking Laws Amendment Bill recently, the face of the Indian banking industry is set to get a lift in the coming years as the passage of the bill has paved the way for more banks. This will not only create a healthy competition among the players in the industry, but will also escalate the style of operation and technology.