India Banking Market By Type, Industry Size, Share, Trends, Opportunity and Forecast 2024 - TechSci Research

India Banking Market is projected to grow at a double digit CAGR during 2019-2024 owing to rising disposable income, growing digital payment system in the country, growing bank branch networks and entrance of the foreign banks in Indian market. Based on bank type, market has been segmented into Public and Private Sector. The Public sector dominated the banking market in 2018 and is expected to maintain its dominance over next five years as well. Moreover, in 2019, Lok Sabha has approved recapitalisation bonds worth US$ 12.62 billion for public sector banks which will further boost the demand for public sector market during forecast period. 

Furthermore, increasing income in rural areas is anticipated to drive the need for banking services and programmes like MNREGA have aided in growing rural income, which was further supported by the recent Jan Dhan Yojana and strong GDP growth of over 7% facilitated the banking sector expansion in the country. Moreover, simplification of KYC norms, easy availability of loans, rapid urbanization, growing demand for retail & corporate loans and government initiatives like Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana etc., will further boost the banking market in India. The key players in Banking market are SBI, Punjab National Bank, Bank of India, among others.

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Years considered for this report:

Historical Years : 2014-2017

Base Year : 2018

Estimated Year : 2019

Forecast Period : 2020-2024

Objective of the Study:

  • To analyse and forecast the market size of Banking Market, in terms of value.
  • To classify and forecast India Banking Market based on type, banking sector, company and regional distribution.
  • To identify drivers and challenges for India Banking Market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India Banking Market.
  • To identify and analyse the profile of leading players involved in the India Banking Market.


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Some of the leading players in the India Banking Market are IndusInd Bank, HDFC Bank, ICICI Bank, Punjab National Bank, Bank of India, AXIS Bank, Union Bank of India, State Bank of India, Federal Bank, Karur Vysya Bank etc.

To perform the study, TechSci Research conducted primary as well as Exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Banking companies and service providers operating in India. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. TechSci Research analysed product offerings, services and regional presence of all major Banking companies in India.

TechSci Research calculated the market size for India Banking market using a bottom-up technique, wherein sales value data of different finance companies was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of Banking companies to arrive at the overall market size.


Key Target Audience:

  • Banking Sectors
  • Insurance Sectors
  • Financial Service Sectors
  • Industry associations and experts
  • Research organizations and consulting companies.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Banking Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, By Type:
    • Public Sector
    • Private Sector
  • Market, By Banking Sector:
    • Retail Banking
    • Commercial Banking
    • Central Banks
    • Investment Banking
    • Others
  • Market, By Region:
    • North Region
    • South Region
    • West Region
    • East Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Banking Market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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