Banking Industry in India

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India Industry Latest News And Updates

Sensex provisionally closes flat
June 01, 2015 05:57 PM
Investor anxiety -- on the eve of RBI's monetary policy review -- over whether the apex bank would cut key lending rates led a barometer index of the Indian equities markets to provisionally end flat on Monday. The benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), provisionally closed only 21 points - or 0.07 percent - up after the day's trade. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also provisionally closed flat. It closed the day's trade marginally down by 0.25 points at 8,433.40 points. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,770.79 points, closed at 27,848.99 points (at 3.45 p.m.), up 20.55 points or 0.07 percent from the previous day's close at 27,828.44 points. The Sensex touched a high of 27,959.43 points and a low of 27,737.58 points in the intra-day trade. Source: IANS

The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections made in the "India Vision 2020" prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely to decelerate.

The Indian Banking Industry can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. As far as the present scenario is concerned the Banking Industry in India is going through a transitional phase.

The Public Sector Banks(PSBs), which are the base of the Banking sector in India account for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry.

In the Indian Banking Industry some of the Private Sector Banks operating are IDBI Bank, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Bank of Rajasthan Ltd. and banks from the Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank among others. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank are some of the foreign banks operating in the Indian Banking Industry. Last Updated on June 26, 2015