Reserve Bank of India (RBI) tells India's banking sector is sufficiently capitalised and well-regulated. The monetary and economic conditions within the country square measure so much superior to the other country within the world. Credit, market and liquidity risk studies counsel that Indian banks square measure usually resilient and have withstood the worldwide worsening well.
Indian industry has recently witnessed the roll out of innovative banking models like payments and little finance banks. The financial organisation granted in-principle approval to eleven payments banks and ten tiny finance banks in FY 2015-16. RBI's new measures could go an extended method in serving to the restructuring of the domestic industry.
The Indian industry consists of twenty six public sector banks, twenty five non-public sector banks, forty three foreign banks, fifty six regional rural banks, 1,589 urban cooperative banks and 93,550 rural cooperative banks, additionally to cooperative credit establishments. Public-sector banks management nearly eighty percentage of the market, thereby going away relatively a lot of smaller shares for its non-public peers. Banks also are encouraging their customers to manage their finances exploitation mobile phones.