FINANCIAL SERVICES

Whate are they? In simple terms, they are services offered by organizations relating to financial sector

Types of services offered / objectives
1.Fund raising: raise required funds from investors,individuals,etc
2.Deployment of funds: array of financial services for deployment
3. Specialized services like factoring, credit rating,etc
4. Saving mobilization and eco. Growth: mobilization of savings of a cross section of people, for purpose of channeling them into productive investments.

Major constituents of Fin. Service Market
1.Service providers / institutions
2.Service buyers
3.Financial instruments
4.Specialised institutions
5.Regulatory institutions

SERVICE PROVIDERS
NBFC(Non Banking Financial Company)

According to RBI, NBFC is an institution or a company whose principle business is to accept deposits under any scheme or arrangement or in any other manner and to lend in any manner.
Mainly they are
--->Fund Based, NBFCs
--->Service Based, NBFCs


Importance of NBFCs

Provides finance to those sectors who are unable to access banks
Provides financial services to individuals and corporate
Satisfy specialised credit requirements
Mobilisation of deposits
Creates competitive environment
Other services like banks

Based on ur comments I will put in more data regarding the same.