Banking financial institution, depository institution: Financial institution that accept deposit and channel the money into lending activities is called depository institution. Bank: Central Bank Commercial Bank Development Bank Finance Company Microfinance Cooperatives Non banking financial institution, Contractual institution Employee Provident Fund Citizen investment trust Insurance companies Investment institution Brokers Investment bank underwriters
According to Joseph Massie " financial management is operational activities of a business that is responsible for operating an effective utilisation of the font necessary for efficient operation"
In general assumption that a financial manager work only in the account department or he/she has to deal with the cash flow. In reality they have a large area to cater. Finance management is efficient management of fund, planning and organisation the matter related to money and also effect utilisation of economic resources. The basic aim is maximisation of wealth and ensure a fair return to stakeholder while maintaining the financial discipline in the organisation
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