What is Financial Services ? | Meaning of Financial Services | Easy Concept

What is Financial Services ? | Meaning of Financial Services | Easy Concept

In general, all types of activities which are of a financial nature could be brought under the term Financial services'. The term 'Financial Services' in a broad sense means 'Mobilizing and allocating savings'. Thus, it includes all activities involved in the transformation of saving into investment.

What is Financial Services ? | Meaning of Financial Services | Easy Concept

The 'Financial Services' can also be called 'Financial intermediation'. Financial intermediation is a process by which funds are mobilized from a large number of savers and make them available to all those who are in need of it and particularly to corporate customers. Thus financial services sector is a key area and it is very vital for industrial development. A well developed financial services industry is absolutely necessary to mobilize the saving and to allocate them to various investable channels and thereby to promote industrial development in a country. 

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