Mark Carolin

It is a wide known fact, that market sentiment too plays a pivotal role in determining the economic tide of a country. And with the formation of the stable government, the market sentiment in India is nonetheless turning positive. The ripple effect of the same is likely to be felt on all the financial industry too. As per the financial news online, almost all the financial sectors inclusive of banking and insurance are likely to win great benefits and profits towards the end of the economic year. Leave aside the recession and its hammering impact on the world economy; the Indian economy has seen a slight boost anyways. According to the financial services news, the financial services and the real estate sector have grown by 9.5 percent in the first quarterly half of the year 2009-10. Financial services encompass in them a host of services rendered by the financial market.

More so, the term signifies the organizations dealing with management of money, say for instance, the banks, investment banks, insurance companies, stock brokerages, credit card companies and so on. Generally, the financial services are not only limited to the sphere of deposit-taking, loan and investment services, but also extend their presence in various other fields of insurance, estate, trust and agency services and other forms of financial intermediation. Financial services, thus, have always had a clear background of risks and midst the fluttering market and regulatory pressures, financial service organizations are striving hard to grow enhancing their shareholder values. The seemingly high growth rate seems to be an answer to the rigorous measures taken by the government in order to revive the economy. As the financial services news India stated, the major steps taken by the government included lowering factory levies, slashing interest rates, and doubling the limit on foreign investment in the corporate bonds. No wonder the financial industry in India is growing rapidly and to add more to its splendor, the country also received US$ 45 billion only through foreign remittances from the NRIs in the year 2008. This amount was recorded as the highest ever in the world.