Banking sector is the most important sector for a country as it indicates the country financial performance. In this article, we will discuss what is the status of the banking sector in India and list of service banks offers.Banking sector Performance in the FY 2017-18
The growth rate of the banking sector in India is 8.5% per annumPradhan Mantri Jan Dhan Yojana (PMJDY) increased to Rs 892.58 billion (US$ 12.37 billion) and 341.4 million accounts were opened in IndiaThe total number of subscribers was 13.35 million, under Atal Pension Yojna as of 2018Banking need in the rural region is increasing as the income is also increasing.Market SizeThere are total of 219 banks in India which consist of different sector banks. In India, there are 27 public sector banks, 21 private sector banks, 49 foreign banks, 56 regional rural banks, 1,562 urban cooperative banks and 94,384 rural cooperative banks. the market size of India is one of the huge market in India. India’s retail credit market is the fourth largest in the emerging countries. It increased to US$ 281 billion on December 2017 from US$ 181 billion on December 2014.List of Services Offered By the BanksThe following are the service offered by the bank to the customer-
Fund transfer using NEFT, RTGS and IMPSMissed call balance check numberATM for cash withdrawalNet BankingMobile bankingPayment bank digital walletCredit facilityLoan facilityBanking sector Insight
People are accepting and turning more on the digital payment method for paying instead of cashDemonetization helped the Indian digital banking to rise and it also helped the Black Money come into the mainstream economy.Reserve Bank of India (RBI) has decided to set up Public Credit Registry (PCR) an extensive database of credit information which is accessible to all stakeholders. The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill has been passed and is expected to strengthen the banking sector.Various schemes under the Pradhan Mantri Yojana are availed by the citizen that focus on the development of the individual as well as country.About Ask Bank IFSC CodeIf you are in need to get some bank information like bank toll free number, bank IFSC code etc then why are you perplexed. You might have bitter experience with the previous sites but do not worry because you will find our info easier and user-friendly. Click the site today and overcome several issues now! Fulfill the need for bank details through our site like bank email id, Bank Toll free number etc in few mouse clicks via us. Contact the site suggested here and gets immediate info in a short while. No loading issues go the site and collect important info in the shortest wait.
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