The financial industry, or financial services industry, includes a wide range of companies and institutions involved with money, including businesses providing money management, lending, investing, insuring and securities issuance and trading services. The following institutions are a part of the financial industry: Banks,Credit card issuers,Insurance companies,Investment bankers ,Securities traders ,Financial planners ,Security exchanges. A large portion of this sector generates revenue from mortgages and loans, which gain value as interest rates drop. The health of the economy depends, in large part, to the strength of its financial sector. The stronger it is, the healthier the economy. A weak financial sector typically means the economy is weakening.
Financial services companies are present in all economically developed geographic locations and tend to cluster in local, national, regional and international financial centers such as London, New York City, and Tokyo. India has a diversified financial sector undergoing rapid expansion, both in terms of strong growth of existing financial services firms and new entities entering the market. The sector comprises commercial banks, insurance companies, non-banking financial companies, co-operatives, pension funds, mutual funds and other smaller financial entities.The Mutual Fund (MF) industry in India has seen rapid growth in Assets Under Management (AUM). Total AUM of the industry stood at Rs 23.80 trillion (US$ 340.48 billion) between April 2018-February 2019.