Propelling economic conditions are influencing the Indian Banking Industry Growth
Rising ease of availing loan, capital adequacy and growing
variety of online platforms for availing banking benefits are influencing the
demand for banking industry in India.
According to TechSci Research
report, “India Banking Industry &
Opportunities, 2015-2022” particularly
in a middle-income economy like India, the banking sector is essential for
facilitating infrastructure, investment, and credit. Along with having nearly
1.4 billion people living there, the nation also has a sizable network of banks
and non-banking financial institutions (NBFIs) that provide a wide range of
financial services to individuals, businesses, and small businesses. The
Reserve Bank of India is the country's main banking supervisor.
As of June 2021,
approximately 30% of the loan book of commercial banks is made up of
industries, followed by personal loans (29%) and the services sector (27%). The
biggest foreign lender in India is Citibank (US), followed by HSBC (UK),
Standard Chartered (UK), and Deutsche Bank (Germany). Singapore's DBS has
aggressively increased its presence in India in recent years.
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The India Banking industry is
segmented based on the Total Number of Banks in India and Total Deposits in
India. Based on Total Number of Banks the market is explained by Bank Type, whereas
the Total Deposits in India segment is categorized into Deposit Type, Bank
Type, and Region. Based on Total Credit/Lending in India, the market is categorized
into End Use Sector, Bank Type, and Region. Based on Total Assets, it is
segmented into Type of Banks. By Total Foreign Currency Reserves in India, it
is segregated into Type of Reserve, and by Total Number of ATMs in India into
Bank Type. The market analysis also studies the Total interest income and other
income segmentation into the Type of Banks.
In terms of bank type, the private banks have been aggressively
promoting their new products and services, which has resulted in them taking a
significant market share away from their public sector competitors. As of now,
the Public Sector Undertaking (PSU) banks, which currently control about 65% of
the banking sector, are becoming more and more aware of this hostile incursion
into their territory. PSU banks have finally begun some serious IT plans in
anticipation of and to survive off private competition. However, these
initiatives are currently limited to metropolises and larger towns.
In India, automated teller
machines (ATMs) have become a popular delivery method for banking transactions.
ATMs have been used by banks to expand their reach. Although customers can use
ATMs to conduct a variety of banking operations, cash withdrawal and balance
inquiries have historically been their primary uses. There were 216,981 ATMs in
India as of November 2022, with 55.41% of them located at on-site location and
the remaining percentage covers the off-site location and about 4% of ATM’s are
installed in rural and semi-urban areas. Larger banks have installed more ATMs
in line with the branch network. The majority of banks prefer to place ATMs in
areas where they have a sizable customer base.. Banks have also entered into
bilateral or multilateral agreements with other banks to create inter-bank ATM
networks in an effort to increase the use of ATMs as a delivery channel.
Key market players in the Banking
Industry of India include:
- State Bank of
India
- HDFC Bank
Limited
- ICICI Bank
Limited
- Canara Bank
- Punjab National
Bank
- Union Bank of
India
- Bank of Baroda
- Axis Bank
Limited
- Kotak Mahindra
Bank Limited
- Bank of India
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In order to expand access to
financial services and literacy, the Reserve Bank of India reports that a
significant number of 75 digital banking units were established in villages and small towns across the nation in
October 2022. The brick-and-mortar digital banking units, created in
association with more than 20 public and private banks, are outfitted with
tablets and internet access to assist individuals and small businesses in
opening savings accounts, accessing government-identified programs, performing
verifications, carrying out transactions, and obtaining loans and insurance.
“A precise predictor of the
growth of the banking industry is the nation's economic growth. The World Bank
has significantly increased its 2022–2023 GDP forecast from 6.5 percent (in
October 2022) to 6.9 percent, and the country's banking sector is anticipated
to reflect this growth. The Reserve Bank of India, a competent central
regulatory body whose policies have protected Indian banks from overleveraging
and making high-risk investments, bears responsibility for this. India has a
robust competitive environment, with government banks predominating the market.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Banking Industry
By Total Number of Banks in India (Bank Type), By Total Deposits in India (Deposit
Type, Bank Type, Region), By Total Credit/Lending in India (End Use Sector, Bank
Type, Region), By Total Assets (Type of Banks), By Total Foreign Currency
Reserves in India (Type of Reserve), By Total Number of ATMs in India (Bank
Type), By Total Interest Income and Other Income (Type of Banks), Opportunities, 2015-2022,” has evaluated the growth of India
Banking Industry and provides statistics & information on industry
structure. The report intends to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Banking Industry.
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