Commerce Dashboard
Banking
Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY) stood at Rs 1.06 lakh crore (US$ 15.17 billion) with 37.34 crore accounts registered.

Indian Banking Industry Analysis

    Last updated on Sep, 4 2020

The Indian banking system consists of 20 public sector banks, 22 private sector banks, 44 foreign banks, 44 regional rural banks, 1,542 urban cooperative banks and 94,384 rural cooperative banks in addition to cooperative credit institutions. As on May 31, 2020, total number of ATMs in India increased to 210,415 and is expected to reach 407,000 by 2021.

According to Reserve Bank of India (RBI), India’s foreign exchange reserve reached US$ 534.56 billion as on July 31, 2020.  According to RBI, bank credit and deposits stood at Rs 102.19 lakh crore (US$ 1.45 trillion) and Rs 140.20 lakh crore (US4 1.98 trillion), respectively, in the fortnight ending July 31, 2020.

Credit to non-food industries stood at Rs 101.33 lakh crore (US$ 1.43 trillion) on July 31, 2020.

Asset of public sector banks stood at Rs 72.59 lakh crore (US$ 1,038.76 billion) in FY19.

Total assets across the banking sector (including public, private sector and foreign banks) increased to US$ 2.27 trillion in FY19.

Indian banks are increasingly focusing on adopting integrated approach to risk management. The NPAs (Non-Performing Assets) of commercial banks has recorded a recovery of Rs 400,000 crore (US$ 57.23 billion) in FY19, which is highest in the last four years.

As per Union Budget 2019-20, investment-driven growth required access to low cost capital, and this would require investment of Rs 20 lakh crore (US$ 286.16 billion) every year.

RBI has decided to set up Public Credit Registry (PCR), an extensive database of credit information, accessible to all stakeholders. The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill has been passed and is expected to strengthen the banking sector. Total equity funding of microfinance sector grew 42 per cent y-o-y to Rs 14,206 crore (US$ 2.03 billion) in 2018-19.

Bank accounts opened under the Government’s flagship financial inclusion drive Pradhan Mantri Jan Dhan Yojana (PMJDY) reached 40.05 crore and deposits in Jan Dhan bank accounts stood at more than Rs 1.30 lakh crore (US$ 18.44 billion).

Rising income is expected to enhance the need for banking services in rural areas, and therefore, drive the growth of the sector.

The digital payments revolution will trigger massive changes in the way credit is disbursed in India. Debit cards have radically replaced credit cards as the preferred payment mode in India after demonetisation. Payments on Unified Payments Interface (UPI) hit an all-time high of 1.49 billion in terms of volume with transactions worth nearly Rs 2.90 lakh crore (US$ 41.22 billion) in July 2020.

As per Union Budget 2019-20, the Government proposed a fully automated GST refund module and an electronic invoice system to eliminate the need for a separate e-way bill.

Indian Banking Industry Report (August, 2020)
Download PDF Download PDF  (Size: 472.84 KB )

Click to access the Banking Industry Archived Report

Banking India

Growth in money supply over past few years (US$ billion)
Gross NPAs to Gross Advances in India

 

Posters

Brand India Pharma

BANKING INDIA

+ More >

Brand India Pharma

IBEF Publications

IBEF Publication

Agri Export Policy - Towards smoother trade, wider global presence

English

+ More Publications >

IBEF Publication

IBEF Blog - INDIA ADDA – PERSPECTIVES ON INDIA More

author_logo-ibef1.jpg An analysis of export preparedness Index by NITI Aayog
IBEF, Knowledge Centre

India is a vast and geographically diverse country with 28 States and 8 Union Territories (UT). India plans to become a US$ 5 trillion economy by 2024 and th...

author_logo-ibef1.jpg Major changes announced in the National Education Policy 2020
IBEF, Knowledge Centre

On July 29, 2020, Union Cabinet approved the National Education Policy (NEP) 2020, which is the first education policy of the 21st century and has replaced the...

author_logo-ibef1.jpg Immunity Boosting Products – Renewed focus during COVID-19 crisis
IBEF, Knowledge Centre

The world is going through an unprecedented crisis with COVID-19. Scientists are working aggressively to find vaccine for the disease. In the meantime, the solution is to...

author_logo-ibef1.jpg India’s journey from manufacturing zero PPE kits to two lakh PPE kits per day
IBEF, Knowledge Centre

India was manufacturing nearly zero PPE kits until January 2020. It was manufacturing only medical gowns, which was just one of the components of the kit, whereas, no PPE...

author_logo-ibef1.jpg Self-Reliant India Movement: An opportunity
IBEF, Knowledge Centre

At a time when the world is suffering from a deadly pandemic, India plans to convert this crisis into an opportunity and strengthen its fight by becoming Aatmanirbhar or ...

author_logo-ibef1.jpg EXPORT OF MOBILE PHONES FROM INDIA: OVER 100% GROWTH IN FY20
IBEF, Knowledge Centre

Smartphones market in India have witnessed a phenomenal growth in the past few years. India overtook the United States (US) to become the second-largest smartphone market...

ideas More

Ideas

Zomato: Top Of The Food Chain
Zomato, an Indian start-up is in the business of online food ordering. It initially launched Foodiebay.com in Gurugram in 2008, a website that scanned menus and provided ratings and recommendations on....

JOIN IBEF.org

Join IBEF.org now. Enjoy FREE subscriptions downloads, updates and more.

Error

Already a member?
Login / Retrieve Password