Press Release

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.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "India Banking Industry"

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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