In the '90s there has been a decisive shift towards a new wave, the domain of financial services. In the era of the consumer, financial services, which seek to put the consumer in the forefront, have come to stay. Skillful marketing has opened up a wide spectrum of areas where financial services find their presence today.
The financial institutions and instruments constitute the hard core of the financial system. Financial services on the other hand represent the software portion of the financial environment. They represent all kinds of services provided in financial terms, where the essential commodity is money viz., leasing, hire-purchase, consumer credit, investment banking, commercial banking, venture capital, insurance, credit rating, bill discounting, mutual funds, stock broking, housing finance and factoring.
The growth in financial services sector has also led to the popularization of credit cards. Consumerism has firmly established itself in our country today. The financial services market scene is heating up. The Asian giants China and India have become exciting dynamic markets. The Indian Financial Service Providers (FSPs) pose a major challenge. The sector, it is said, is projected to undergo a major transformation in the coming decade.
Competition has increased within the traditional financial centers, amongst the players themselves, through the shared objectives to chase retail deposits, prime corporates and high net worth customers through the provision of a universal range of services. The rules for entry of foreign companies into financial services have been considerably liberalized and it has become easy for global majors to make entry into India. Today, traditional retailers and supermarkets affinity groups are providing financial services; traditional FSPs are providing retail services through e-commerce links.
It is indeed, a challenge for the traditional financial services players in their present structure to continue to survive by the end of the decade or even through the next five years.
[...] 2002: Moody's assign higher than sovereign rating to ICICI. Merger of ICICI Limited, ICICI Capital Services Ltd and ICICI Personal Financial Services Limited with ICICI Bank. ICICI BANK SERVICES Ltd MCKENZIE 7s The 7s model is better known as McKinsey 7-S.This is because the two persons who developed this model, Tom Peters and Robert Waterman, have been consultants at McKinsey & Co at that time. They published their 7s model in their article “Structure Is Not Management”(1980) and their books Art of Japanese Management” (1981) and search of Excellence” (1982). [...]
[...] Being aware of the various investment avenues and their return matrix. To be clear with risk taking capabilities of the individual investors. To Structure the profile of the investors based on their Income levels and savings. To understand the need of finance at various stages in life. SCOPE OF THE STUDY The study basically tries to identify the preferences of investments when posed choice between various investment alternatives. The study was done to individual investors restricted to the city of Bangalore. [...]
[...] James Raj appointed as the fourth Chairman of ICICI. 1979: Mr.Siddharth Mehta appointed as the fifth Chairman of ICICI. 1982: Becomes the first ever Indian borrower to raise European Currency Units. : ICICI commences leasing business. 1984: Mr. S. Nadkarni appointed as the sixth Chairman of ICICI. 1985: Mr.N.Vaghul appointed as the seventh Chairman and Managing Director of ICICI. 1986: ICICI first Indian Institution to receive ADB Loans. First public issue by an Indian entity in the Swiss Capital Markets. [...]
[...] The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee- based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries. [...]
[...] Hence this was included to show that there is direct relationship between age and savings Table No:-15 Table showing the relationship between Age and Savings Interpretation: Percentage of savings is the actual amount of surplus income that is available after deduction of expenses and payments. Indians in general are said to have higher savings but demographics show that this trend is changing. Only older sections saved more while younger people preferred to spend. Large population of the people invested 10% - 15% of their savings in planning for future needs. Only a small percent saved more than 20%. Chart No: 15 Table No:-16 There is always direct relationship between age and risk levels taken by the investors. [...]
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