Section 3(16) in Insolvency And Bankruptcy Code, 2016
(16)"financial service" includes any of the following services, namely:-(a)accepting of deposits;(b)safeguarding and administering assets consisting of financial products, belonging to another person, or agreeing to do so;(c)effecting contracts of insurance;(d)offering, managing or agreeing to manage assets consisting of financial products belonging to another person;(e)rendering or agreeing, for consideration, to render advice on or soliciting for the purposes of-(i)buying, selling, or subscribing to, a financial product;(ii)availing a financial service; or(iii)exercising any right associated with a financial product or financial service;(f)establishing or operating an investment scheme;(g)maintaining or transferring records of ownership of a financial product;(h)underwriting the issuance or subscription of a financial product; or(i)selling, providing, or issuing stored value or payment instruments or providing payment services;
