Banks in India, banking in India

The banking in India has gained momentum and the main vision of all banks in India is to use all the resources efficiently to make the productivity better and to ascertain a win-win situation.

However, survival in the long run is essential and this is possible only by focusing on the cost savings.

Earlier, banks in India focused only on the revenue, but now their vision has shifted to approach the profit model by offering perfect customer services and thereby aiming for higher profit maximization.

The banking industry is showing qualitative growth than the quantitative approach.

The commercial banks total assets by March end 2010 is expected to reach Rs 40,90,000 crore.

This comprises GDP around 65% as per the current market prices in comparison to 67% in the year 2002-03.

The assets of the bank are estimated to grow at composite rate annually.

Banking in India is becoming hopeful as they are the key sources of financial sector revenue as well as profit growth. Banking in India continues to be healthy and owing to this the profit of the Indian banking industry is sure to surge ahead.

The Indian banking industry profit pool is expected to augment from 2005- US$ 4.8 billion to US$ 20 billion in 2010 and to reach US$ 40 billion in 2015.

Indian banks are the major contributors and the backbone of the Indian economy.

The banking started in 1786. The State Bank of India was established in 1806 and is the oldest bank in existence.

There are many banks, public and private sector owing to huge market potential.

The top Indian banks are dominated by SBI. SBI has 20% Indian banking deposit base, but the recent slowdown has affected the Indian banking industry as well.

The top Indian banks as per 2008-09 in the list begins with SBI with 11447 offices, HDFC Bank with 1400 offices, Axis Bank with 786 offices,

Bank of India with 2934 offices, Punjab National Bank with 4323 offices, Bank of Baroda with 2916 offices, ICICI Bank Limited with 1408 offices,

Union Bank of India with 2569 offices, Citibank with 41 offices and Canara Bank with 2740 offices.