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