About BFSI Industry

The term BFSI stands for Banking, Financial Services & Insurance sectors.
These sectors are described in-depth as below:

Banking

• Holding financial assets for customers
• Investing those financial assets so as to create more wealth
• Regulating activities of Government agencies under RBI’s guidance

Financial Services

• Stock Broker: A registered representative, investment advisor or broker is associated with a brokerage firm. Such a representative executes buying and selling orders for stocks, other securities. These orders are executed through Stock Market/ over the counter.
• The Stock Traders handle all transactions for retail and institutional customers
• Mutual funds and Housing finance are other services offered in the Financial Services sector

Insurance

• Insurance is a contract, represented by a policy
• An individual or entity receives the financial protection or reimbursement against losses from an insurance company
• The company pools clients' risks to make payments affordable for insured entities
• The insurance policies hedge against risk of financial losses (big and small) resulting from damage to the insured or property/ from liability for damage/ injury caused to the third party