Financial services: A financial service is any kind of financial nature offered by a financial service provider. All banking and insurance related services are included in this concept. These services are intangible and invisible. There should be proximity between the service provider and the consumer in order to complete a service transaction. These services cover a wide range of economic activities. Financial services have developed to meet the needs of the companies. Banking and insurance are traditional financial services. The modern financial services include over the counter services. Share transfer, pledging of shares, mutual funds, factoring, discounting, venture capital and credit cards. Financial services have started long back in western countries. In India, these services have started during 1980s. These services play a significant r ole in the changed business services.
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