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IGNOU's MMPF 006 course on Management of Financial Services involves understanding the principles, practices, and challenges associated with providing financial services in the banking and financial sector. Here's an in-depth guide to help you effectively study for this course:Introduction to Financial Services Management:Define financial services and their importance in the economy.Understand the scope and significance of financial services management in the banking and financial sector.Overview of Financial Institutions:Study the different types of financial institutions, including banks, insurance companies, mutual funds, brokerage firms, and non-bank financial institutions.Explore the functions, roles, and regulatory framework governing financial institutions.Market Structure and Trends:Analyze the structure and dynamics of financial markets, including money markets, capital markets, and derivatives markets.Identify emerging trends and developments in financial markets, such as digitalization, globalization, and regulatory reforms.Customer Relationship Management (CRM):Understand the importance of customer relationship management in financial services.Study CRM strategies, techniques, and technologies used by financial institutions to attract, retain, and serve customers.Product Development and Innovation:Explore the process of product development and innovation in financial services.Study techniques for designing and launching new financial products, such as loans, deposits, insurance policies, investment products, and payment services.Risk Management in Financial Services:Understand the various types of risks faced by financial institutions, including credit risk, market risk, liquidity risk, and operational risk.Study risk management techniques and frameworks used to identify, assess, monitor, and mitigate risks in financial services.