Quadintel recently published a new research report on the Retail Banking Market. In addition to prospective prospects, this study offers a historical analysis of growth, cost structure, revenue, market trends, and capacity (2023-2030). The following section offers comprehensive coverage of the Retail Banking Market across a number of market categories, in-depth research at the country level, and an assessment of the market’s key drivers, restraints, trends, and opportunities.
Studies of the market dynamics, market segmentation, supply chain & industry demand, challenges, as well as threats, and the competitive landscape, are also important aspects of this report’s research. Regional segmentation and geographic dominance make up the bulk of the research work.
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Key Companies Covered in the Retail Banking Market Research are Allahabad Bank Limited, Axis Bank Limited, Bandhan Bank Limited, Bank of Baroda Limited, HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank Limited, RBL Bank Limited, State Bank of India Limited, Yes Bank Limited and other key market players.
FY 2014-FY 2019 period, deposit at SCBs expanded at a compound annual growth rate (CAGR) of ~10.39% to reach INR 1,30,430.12 Bn in FY 2019 from its FY 2014 value of INR 79,556.90 Bn.
The retail banking sector, currently comprises a network of ~96,068 branches of public sector, private sector, foreign, regional, rural, and cooperative banks (urban and rural). During the
Various government initiatives like increasing the number of banks public service units in rural areas, the Pradhan Mantri Jan Dhan Yojana program, free credit and debit cards with low transaction limits and promotion of technology-based banking systems are driving the growth of the retail banking sector of India.
Major players operating in the Indian retail banking market industry include Yes Bank Limited, Axis Bank Limited, Bandhan Bank Limited, State Bank of India Limited and HDFC Bank Limited.
Market segment insights
As of FY 2018, in terms of deposit, public sector banks held the highest market share (~70.06%), followed by private sector banks. In FY 2018, SCBs opened around 1,594 new branches in tier I cities across India, which accounts for ~40.37% of the overall new branches opened during the year. During the same period, public sector banks had around 82,730 on-site ATMs and about 63,234 off-site ATMs across India. Among these, most public sector bank ATMs are in the semi-urban regions.
Key growth drivers of the market
In order to increase the penetration of services across India, SCBs have introduced facilities like opening a zero-balance savings account for the low-income population group in rural areas. Government-led, bank-based pension and insurance schemes like Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana have also propelled the growth of the retail banking industry in India.
Owing such customer-centric facilities, the penetration level of the banking sector in India had reached ~80% in FY 2018. The introduction of internet-based banking facilities has made transactions easier, thereby increasing the account-to-account transaction volume across the country. ?
Key deterrents to the growth of the market
Apart from banking, the popularity of internet-based banking has made it easy for hackers to engage in fraudulent activities. Crimes related to credit card fraud, spamming, spoofing, e-money laundering, ATM fraud, phishing, identity theft and credit through unauthorized cheque increased in India in FY 2019, as compared to that of FY 2018. This, in turn, has led to customers dissatisfaction and loss of trust towards web-based banking.
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
List of Factors Covered in the Report are:
Geographical Breakdown: The regional section of the report analyses the market on the basis of region and national breakdowns, which includes size estimations, and accurate data on previous and future growth. It also mentions the effects and the estimated course of Covid-19 recovery for all geographical areas. The report gives the outlook of the emerging market trends and the factors driving the growth of the dominating region to give readers an outlook of prevailing trends and help in decision making.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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