No. Banks are not required to provide the details of ATMs while applying for registration. For the purposes of registration, ATM on its own does not constitute a place of business, as defined in the CGST Act, 2017.
Snapshot
Banking for 1.37 Bn
Total Banking Assets of US$ 2.36 tn, growing at a 7% CAGR from FY13-18
The Banking industry in India has historically been one of the most stable systems globally, despite global upheavals. The government has consistently strived to promote financial inclusion through various initiatives targeted to bring the country’s underbanked population under the banking gamut.
As a part of the Digital India initiative, the Govt. mandated an open API policy, known as India Stack, giving third-party providers access to the proprietary software for five key programs: Aadhaar (the Government’s biometric identity database), e–KYC, e–signing, privacy-protected data sharing and the UPI. However, India’s Supreme Court has recently ruled that Aadhaar is mandatory only for income tax returns (ITR) and allotment of the permanent account number (PAN).
Upto 74% FDI is allowed in Private banking and Public Sector.
For further information, please refer the FDI policy
Public sector banks
Private sector banks
Foreign banks
Regional rural banks
Largest microfinance market in the world
179 bank accounts opened in India every minute
India to become the third-largest domestic banking sector by 2050
- INDUSTRY SCENARIO
- FOREIGN INVESTMENT
- INDUSTRY TRENDS
- POLICIES & SCHEMES
Industry Scenario
Total Banking Assets of US$ 2.36 tn, growing as a 7% CAGR from FY13-18
Indian Banking industry consists of 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. Public sector banks account for 66.03% of the total banking assets. In FY18, total assets in public and private banking sector were $ 1,557.04 bn and $ 666.99 bn, respectively.
Investments – the second-largest component in the assets side of banks’ balance sheets after loans and advances – picked up, mostly driven by government securities.
Further to this, during 2017-18 and 2018-19 (up to September 2018), capital adequacy remained above regulatory requirements in spite of the NPA ratio increasing. Leverage and liquidity coverage ratios (LCR) also witnessed improvement.
Moreover, Recovery of stressed assets improved during 2017-18 through the IBC, 2016 and Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002.
Banks continued to post robust growth in retail loans in 2017-18. Housing loans were supported by incentives for affordable housing such as the Pradhan Mantri Awas Yojana (PMAY) and the implementation of the Real Estate (Regulation and Development) Act (RERA). Furthermore, rationalisation of risk weights and provisioning on standard assets in certain categories of individual housing loans in June 2017 gave a fillip to the segment. Auto loans growth also edged up. During H1:2018-19, retail loans continued to record robust growth driven by housing and auto loans and credit card receivables.
Growth Drivers
Robust demand & incomes
Increase in working population and growing disposable income will raise the demand for banking and related services
Digital Push
Mobile banking, internet banking and ATM facilities
Policy support
The industry has healthy regulatory oversight with the credible monetary policy by RBI
New banking licenses
New banking licenses have been issued to 11 payment banks 10 small finance banks
Major Investors
Data On Map
Stakeholders
Government Ministry/ Department
Industry Associations
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By: Strategic Investment Research Unit (SIRU)
19 August
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