Indian banks total asset size is recorded at US$ 1.5 trillion in FY12 and is expected to reach US$ 28.5 trillion by 2025. Increase in working population and growing disposable incomes will increase the demand for banking and related services. Housing and personal finance are expected to remain key demand drivers.
Indian banks currently devote around 15 per cent of total spending on technology. Public sector banks account for over 73 per cent of interest income in the sector. Deposits have grown at a compound annual growth rate (CAGR) of 21.2 per cent during FY06-13; in FY13 total deposits stood at US$ 1,274.3 billion.
Mobile, Internet banking and extension of facilities at ATM stations are expected to improve operational efficiency. Total number of ATMs in India have increased to 104,500 in 2012 and is further expected to double over the next two years, thereby taking the number of ATMs per million population from 85, at present, to about 170.