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This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
In India, a neobank is a class of digital-only or online bank that operates without physical branch locations. [8] They typically have lower operational costs, which can sometimes result in lower fees and more competitive interest rates for their customers. Unlike in Europe, the regulatory environment in India is complex, with stringent ...
A digital bank represents a virtual process that includes online banking, mobile banking, and beyond. As an end-to-end platform, digital banking must encompass the front end that consumers see, the back end that bankers see through their servers and admin control panels, and the middleware that connects these nodes.
In the financial year 2020, the bank facilitated more than 485 crore transactions worth ₹4.6 lakh crore. [17] It processed over 778 million UPI transactions amounting to ₹89,388 crore in June 2022 [18] and continues to be India’s biggest UPI beneficiary bank [19] with over 1,370 million digital transactions in June 2022. [18] [20]
In 2024, Forbes India listed IndusInd Bank as 9th among the Top 10 banks in India by market capitalization, with a market cap of ₹ 1.13 lakh crore. [24] The Indian Banks' Association awarded IndusInd Bank the title of "Best Technology Bank" in 2024. [25]
The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.88% and a net NPA ratio of 0.60% as of 31 March 2024. [54] As of 30 September 2024, the overall gross NPA ratio is 1.92%, while the net NPA ratio is 0.48%. [55] In 2023, it became one of the top 10 banks in India by market capitalization. [56] [57]
Here's how digital banks differ from brick-and-mortar banks. ... Don’t use public Wi-Fi to bank online. It’s best to avoid financial transactions on public networks, hotspots or other shared ...
Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17. [14]