financial services

Financial Services

1. Who is the First Finance Minister in India?

Mr. R.K Shanmukham Chetty

Financial services

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions

Creditcard companies, insurance companies, accountancy companies consu-mer finance companies, stock brokerages, investment funds and some government sponsored enterprise 

Banks Commercial banking services Investment banking services

Commercial banking services

The term "commercial" is used to distinguish it from an "investment bank," a type of financial services entity which, instead of lending money directly to a business,

It provides services such as accepting deposits, making business loans and offering basic investment products.

The primary operations of banks include

Keeping money safe while also allowing withdrawals when needed

Provide personal loans, commercial loans, and mortgage loans (typically loans to purchase a home, property or business)

Allow financial transactions at branches or by using Automatic Teller Machines  (ATMs)

Provide wire transfers of funds and Electronic fund transfers  between banks

Investment banking services

Capital markets services - underwriting debt and equity, assist company deals (advisory services, underwriting, mergers and acquisitions and advisory fees), and restructure debt into structured finance products.

Private banking - Private banks provide banking services exclusively to high-net-worth individuals.

Brokerage Services

Brokerage services - facilitating the buying and selling of financial securities between a buyer and a seller.

In today's (2015) stock brokers, brokerages services are offered online to self trading investors throughout the world who have the option of trading with 'tied' online trading platforms offered by a banking institution or with online trading platforms sometimes offered in a group by so-called online trading portals.

Foreign exchange services Currency exchange

- where clients can purchase and sell foreign currency banknotes.

Wire transfer

-where clients can send funds to international banks abroad.

Remittance

- where clients that are migrant workers send money back to their home country.

Advantages of Financial Services

Security Liquidity Income

Limitations of financial Services: Minium deposit requirements may be too high Bank charge fees on many accounts Poor customer service Interest can be high

World BankMotto Working for a World Free of Poverty

Formation July 1944; 71 years ago

The World Bank is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

The World Bank is a component of the World Bank Group, and a member of the United Nations Development Group.

The World Bank's official goal is the reduction of poverty

Jim Yong Kim was elected President of World Bank on 27 April 2012.

International Monetary Fund

About IMF

Abbreviation : IMF

Formation : 27 December 1945

Type : International Financial Organization

Headquarters :Washington, D.C., United States

Managing Director :Christine Lagarde

Objectives of IMF

Promote high employment and sustainable economic growth.

And reduce poverty

Facilitate international trade.

Top 10 companies

1.SBI Capital Markets Limited 2.Housing Development Finance Corporation3.Indiabulls Housing Finance 4.LIC Housing Finance Limited5.Bajaj Capital Limited

Count…..6. ICICI Group7. L & T Finance Limited8. PNB Housing Finance Limited 9. Birla Global Finance Limited 10. DSP Merrill Lynch Limited 

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