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1、MBA-FinanceManagementofFinancialServicesUNIT-ILearningObjectives:Afterreadingthischapteryouwillbeconversantwith:·MeaningandDefinitionsofFinancialservices·KindsofFinancialservices·Evolutionandgrowthoftheseservices·Natureandcharacteristicsoffinancialservices·
2、Goodsmarketingv/sservicemarketing·Strategicfinancialservices·ServicesMarketingtriangleTheFinancialservicessectorinIndiaisbloomingandhasbecomeoneofthelucrativeareastoprofessionalism.Thesectorhasundergonemetamorphosissince1990.Indianeconomygotliberalizeddurin
3、g1991andthefinancialsectorwaskeptopenforprivateandforeignplayers.Duringthelateeighties,thefinancialservicesindustryinIndiawasdominatedbycommercialbanksandotherfinancialinstitutionsgovernedbytheCentralGovernment.Theeconomicliberalizationhasbroughtinacomplete
4、transformationintheIndianfinancialservicesindustry.Priortotheeconomicliberalization,theIndianfinancialservicesectorwascharacterizedbyvariousotherfactors,whichwasrelatedtothegrowthofthissector.Someofthefactorsofsignificanceareasfollows:qToomuchofcontrolandre
5、gulationbytheapexbodiesintheformofinterestrates,moneyratesetc.qControllerofcapitalissuesusedtoregulatethepricesofsecuritiesAcroPDF-AQualityPDFWriterandPDFConvertertocreatePDFfiles.Toremovetheline,buyalicense.MBA-FinanceManagementofFinancialServicesqAbsenceo
6、ffindependentcreditratingandcreditresearchagencies.qStrictregulationoftheforeignexchangemarketqRestrictionsonforeigninvestmentandforeignequityqNon-availabilityofdebtinstrumentsonalargescale.However,aftertheeconomicliberalizationtheentirefinancialsectorhasun
7、dergoneasea-sawchangeandnownewfinancialinstrumentsareenteringthecapitalmarketonadailybasis.ThepresentscenariointheIndianCapitalmarketischaracterizedbyfinancialinnovationandfinancialcreativity.Financialservicesbasicallymeanallthosekindsofservicesprovidedinfi
8、nancialormonetaryterms,wheretheessentialcommodityismoney.Theseservicesinclude;Leasing,Hirepurchase,venturecapital,Merchantbanking,Insurance,housingfinance,Mutualfunds,factoring,stockbrokingandmanyother
