Dear All,
Starting with the first part of the Information series on our blog, we have initiated "i-Bank" which simply aims at educating all of us here about the banking scenario in India. I stands for "Individual" & I stands for "India", this series will bring our individual knowledge together in the form of posts, comments, ideas & discussions in the class & educate us all about the banking sector in India. Hence the name "i-Bank"
Ever since the emergence of banking in India in the last decades of the 18th century, the sector witnessed a considerable growth irrespective of economic volatility and unstable political premise. Banking sector of India still maintains its reputation as one of the most persistently lucrative sector that runs on regular government intervention and well-conceived economic policies. Reserve Bank of India, considered the supervisor of all the commercial banks in India, is the main regulator and these financial institutions have to adhere to its governance. India has about 88 commercial banks including 31 private banks, 27 public sector banks and 38 foreign banks. The country has an aggregate of 53,000 bank branches and 17,000 ATMs. Public sector banks dominate the segment with 75% of the total assets of the industry held by them.
Struck with this information??? Have more to add on it? OK go ahead & leave your comment. Let me know if you liked it. :)
See you tomorrow with the next part of this series.
Till then....happy learning.
Cheers,
Mitul
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