Indian Banking Sector

Oct 21, 2013 No Comments by

 

  • The total worth of Indian banking sector is $1.3 trillion.
  • India has a total of 87 commercial banks. The total deposits in these banks are about $1.21 trillion as on May 31, 2013.
  • Out of these 87 commercial banks, 26 are public sector banks which constitute about 70% of the banking sector. Other than this 20 are private banks while 41 are foreign banks.
  • Out of these 87 commercial banks, 41 are listed in the Indian stock market with a total market capitalization of $158.6 billion.
  • According to RBI’s recent report of September 2012, Nationalized banks make up 52% of the total aggregated deposits. The State Bank of India and its associates constitute 22.3% of the total deposits. New Private Sector Banks make 13.6%, Old Private Sector Banks 4.8%, Foreign Banks 4.3% and Rural Banks 2.9%.
  • As on July 12, 2013, Indian Forex Reserves stood at $280.19 billion.
  • Mobile banking has been picking up in India. Numbers of mobile banking transactions in January 2013 were 5.6 billion up 100% from 2.8 billion in January 2012. The total worth of these transactions stood at Rs 625 crore compared to Rs 191 crore year on year.
  • Banking is the backbone of the economy of any country. Indian banks are investing heavily in IT modernization. They had spent $6.31 billion in 2012 on IT services and products. This year the expenditure is expected to increase by 13%.
Economy

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