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Banking & Insurance

The financial services sector in India has witnessed a fundamental transformation since the country was liberalised. India, in the last few years, has emerged as the one of the most rapidly growing economies across the globe. The financial services market is growing rapidly, and there is significant potential for further growth.

The financial services sector includes broking firms, investment services, national banks, private banks, mutual funds, car and home loans, and equity market.

 Indian markets in urban areas have grown appreciably and are on the verge of saturation, so corporate have started tapping rural markets, since more than 60 per cent of India’s population lives in rural areas.

India has been considerably shielded from the global recession. Firstly, we are not very dependent on the exports for our GDP and have a good consumer base in India. Secondly, we are a saving prone economy, unlike western economies which are consumption prone. Thirdly, when banks across the world are falling like a pyramid of playing cards; we are safe, steady and strong, with our banks which have acted like a strong backbone of our economy during present turmoil. And just like the FMCG sector, there is tremendous growth potential in the banking sector, because firstly, the rural masses have the habit of saving and spending only when needed. Secondly, their small credit requirements for agriculture, cottage industry and marriages etc.

According to researches carried out by the RBI, on an all India basis, 59 per cent of the adult population in the country has bank accounts and 41 per cent don’t. In rural areas, the coverage of banks is 39 per cent, against 60 per cent in urban areas.

There is an overall improvement in the profitability situation in the recent years and also broad convergence of profitability across various bank groups. Since the mid-1990s, profitability levels of commercial banks has hovered in the range of 0.7-0.8 per cent, except during certain exceptional years.

Future development of India and the growth of India Inc. lies in financial inclusion, by tapping the rural markets through banks. This will not only help corporates in fulfilling their social responsibilities, but is important for fuelling growth in other ADEO ‘s team of expertise help our client to source the best available talent.

 industries and  keep the economy growing and moving.



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