Financial Product - Definition / Legal Terminology and Intorduction - Insolvency and Bankruptcy

As per section 3(15) of the Insolvency and Bankruptcy Code, 2016 Financial Product means- securities, contracts of insurance, deposits, credit arrangements including loans and advances by banks and financial institutions, retirement benefit plans, small savings instruments, foreign currency contracts other than contracts to exchange one currency (whether Indian or not) for another which are to be settled immediately, or any other instrument as may be prescribed;