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 KY...