What is the difference between finance and BFSI?

Finance is generally related to all types of financial, this could be accounting, insurances, and policies. Whereas banking is everything that happens in a bank only. Banking and finance is also referred to as a term of managing your money by investing it in either banks or other financial institutions. I hope this will help you.

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Finance: It includes the number of companies that gives accounting services, specially outsource accounting service providers. You will get the services like, reconciliation, managing account payable, receivable, financial reporting, payroll processing, bookkeeping and tax preparation. They provide you coverage about future business growth or crisis. They manage money in a manner that increases investor wealth. Financial research firms provide large corporations analysis and insight into investment decisions. Banking For day to day transaction, we need a bank. Small to large scale businesses also obtains the services of the banking system. There are two types of banks, commercial bank and investment bank. The services provided by a commercial bank are called banking services, which include obtaining deposits from customers and providing loans. These banks operate simply - customers deposit there money in bank for safe place for the surplus funds and than bank give this money as loan to other customers, for a fee known as an interest payment.

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