Last Updated: January 17, 2017
Last Updated: December, 2016
The Indian banking system consists of 26 public sector banks, 20 private sector banks, 43 foreign banks, 56 regional rural banks, 1,589 urban cooperative banks and 93,550 rural cooperative banks, in addition to cooperative credit institutions.
As on September 2016, the outstanding credit to NBFCs stood at US$ 55.27 billion, growing at 25 per cent on year-on-year basis. Bank credit to non-banking finance companies (NBFCs) has touched the highest in three years.
Indian banks are increasingly focusing on adopting integrated approach to risk management. Banks have already embraced the international banking supervision accord of Basel II. According to RBI, majority of the banks already meet capital requirements of Basel III, which has a deadline of March 31, 2019. Most of the banks have put in place the framework for asset-liability match, credit and derivatives risk management.
Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY) are growing. As on November 09, 2016, US$ 6,971.68 million were deposited, while 255.1 million accounts were opened.
Rising incomes are expected to enhance the need for banking services in rural areas and therefore drive the growth of the sector; programmes like MNREGA have helped in increasing rural income aided by the recent Jan Dhan Yojana. The Reserve Bank of India (RBI) has relaxed its branch licensing policy, thereby allowing banks (which meet certain financial parameters) to set-up new branches in tier-2 to tier-6 centers, without prior approval from RBI. It has emphasised the need to focus on spreading the reach of banking services to the un-banked population of India.
Download (Size: 643.53 KB )
Last Updated: January 17, 2017
Powered by the Who's Who of India
Organic farming has been witnessing rising popularity across markets, in tandem with the growing concerns related to intensive farming and an overdependence on agrochemi...
ICLP India has been helping major domestic and international brands to formulate and execute customer engagement strategies and drive loyalty programmes for over eight ye...
India attracted close to 80.16 lakh foreign tourists in 2015. Many international and domestic hotel chains are focusing on expansion in India. Mr. Praveen Roy, CEO, Touri...
The Ministry of Commerce and Industry has recently launched the new enhanced dashboard on foreign trade data...
How connecting with Indian crafts and silhouettes is making room for new business models
Almirah, a conscious clothing and bedding label for chi...
India's core sector output index grew by 5 per cent year-on-year at 176.1 in September 2016, as compared with 3.2 per cent year-on-year growth recorded in August 201...
Redesigning the financial landscape
With unwavering focus on low operating cost and high efficiency, Vortex Engineering has developed a reliable and secure range of ATMs that have changed the face of banking in India. Efforts such as these assume more significance in the wake of the recent demonetisation drive by the government and help..