financial services in India

Financial services institutions of India were established after the fifties, but at that time such financial institutions were set up by the government to collect savings from savers. Since the 90s, due to the extensive reforms in the financial sector, the type and nature of hand service organizations has changed and turned into financial service organizations with various activities. Along with government initiatives, various non-governmental organizations have been providing various services to meet their financial needs. Another important aspect of the financial system in India is that the unorganized sector of India controls and occupies the financial markets in many cases. Borrowers of ordinary investors are being deceived or forced to apply various changes. Financial services in India are 1) resource based financial services 2) payment of fees