Advantage India
Robust
Demand
* According to the EY 2021 NextWave Global Consumer Banking Survey explored consumers’ primary financial relationships and found that FinTechs and neobanks are gaining ground.
* That demand seems particularly strong when it comes to the critical need of protecting consumer data, where incumbent banks have a trust advantage. Some super apps may also turn to banks for access to banking licenses and to meet other regulatory requirements.
Innovation in
Services
* In the recent period, technological innovations have led to marked improvements in efficiency, productivity, quality, inclusion and competitiveness in extension of financial services, especially in the area of digital lending.
* Digitalization of Agri-finance was conceptualized jointly by the Reserve Bank and the Reserve Bank Innovation Hub (RBIH). This will enable delivery of Kisan Credit Card (KCC) loans in a fully digital and hassle-free manner.
Business
Fundamentals
* Digital modes of payments have grown by leaps and bounds over the last few years. As a result, conventional paper-based instruments such as cheques and demand drafts now constitute a negligible share in both volume and value of payments
Policy
Support
* The RBI has launched a pilot to digitalize KCC lending in a bid for efficiency, higher cost savings, and reduction of TAT. This is expected to transform the flow of credit in the rural economy.
* In November 2022, RBI launched a pilot project on central bank digital currency (CBDC).
HDFC Bank
HDFC Bank Limited is a holding company. The bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The bank's segments include treasury, retail banking, wholesale banking and other banking business. The treasury segment primarily consists of net interest earnings from the Bank's investment portfolio, money market borrowing and lending, gains, or losses on investment operations and on account of trading in foreign exchange and derivative contracts. The retail banking segment serves retail customers through a branch network and other delivery channels, as well as through alternative delivery channels. The bank provides its corporate and institutional clients a range of commercial and transactional banking products. The other banking business segment include income from para banking activities.
Read More
ICICI Bank
ICICI Bank Limited is a banking sector company. The bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. The bank's business segments are retail banking, wholesale banking, treasury, other banking, life insurance, general insurance, and others. Its international banking is focused on providing solutions for international banking requirements of its Indian corporate clients and leveraging economic corridors between India and the rest of the world. The bank caters to the financial need of women entrepreneurs through its Self-Help Group (SHG) programme as part of its microfinance initiatives.
Read MoreState Bank of India (SBI)
State Bank of India provides a range of products and services to individuals, commercial enterprises, large corporates, public bodies and institutional customers. It offers a range of segments like treasury, which includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts; corporate/wholesale banking, which comprises the lending activities of corporate accounts group, mid corporate accounts group and stressed assets management group; retail banking, which comprises branches in National Banking Group and primarily includes personal banking activities like lending activities to corporate customers having banking relations with branches in the National Banking Group; and other banking business, which includes operations of all non-banking subsidiaries/joint ventures other than SBI Life Insurance Co. Ltd. and SBI General Insurance Co. Ltd.
Read More
Related News
MOREBanking India
Posters
MORE
NEW INDIA DIGITAL INDIA
India will contribute 2.2% to the world's digital payments market by 2023, while the value of such transaction is expected to reach US$ 12.4 trillion globally by 2025.
IBEF Campaigns
MORE
India Organic Biofach 2022
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...
Case Studies
MORESustainable Circular Economy in India
A circular economy involves a comprehensive strategy for economic growth that is intended to benefit industry, society, and the environment. It seeks ...
Future of Data Science and AI in India
Artificial Intelligence (AI) is the potential of machines to impersonate the capabilities of the human mind. These machines are enabling high-level co...
Service Sector Contribution to India's GDP
India's booming service industry is a remarkable illustration of how modern economic growth models can outperform traditionally established ones. ...
IBEF BLOG
MORE
Foreign Trade Policy: A future-ready initiative
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public ...
The Electric Two-Wheelers Vehicle Industry in India
The Electric Vehicle (EV) market in India is quickly evolving into a comple...
The Sky’s the Limit: India's Growing Aviation Industry
The Sky’s the Limit: India's Growing Aviation Industry India is t...
Partners
