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By 2013 the Indian Banking Industry employed 1,175,149 employees and had a total of 109,811 branches in India and 171 branches abroad and manages an aggregate deposit of ₹ 67,504.54 billion (US$810 billion or €830 billion) and bank credit of ₹ 52,604.59 billion (US$630 billion or €640 billion).
State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC are participating in the pilot project. [48] Shaktikanta Das on 2 November 2022 revealed that Digital Rupee for Retail (e₹-R) will also start similar trial in the same month. [49]
The Reserve Bank of India approved his appointment for a period of three years, effective from 19 December 2018. [21] The bank transitioned from infrastructure financing to retail banking in four years since the merger. Its CASA ratio increased from 8.6% to 49.77% and retail deposits went up from 27% to 76% of total deposits, as of March 2023.
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Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. [1]
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Standard Chartered India (officially Standard Chartered Bank India Branches) is a foreign branch of Standard Chartered, incorporated in the United Kingdom with limited liability. [1] It is considered as a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI).
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]