The Indian Banking scenario is dominated by 46 commercial banks playing along with 10 or more foreign banks. Around 80% of the Indian Banking segment is handled by the State Banks. Rural and co-operative banks also contribute significantly to the Indian Banking Industry.Standard & Poor's estimates that credit growth in India's banking sector would improve to 12-13 per cent in FY16 from less than 10% in the second half of CY14.
Total Indian banking sector assets reached US$ 1.8 trillion in FY14 from US$ 1.3 trillion in FY10, with 70 per cent of it being accounted by the public sector.Total lending and deposits increased at a compound annual growth rate (CAGR) of 20.7 per cent and 19.7 per cent, respectively, during FY07-14 and are further poised for growth, backed by demand for housing and personal finance.
Credit off-take has been surging over the past decade, aided by strong economic growth, rising disposable incomes, increasing consumerism and easier access to credit. Total credit extended went up to US$ 1.28 trillion by October 31, 2014. Deposits have grown at a CAGR of 19.7 per cent during FY07-14 to an estimated US$ 1.31 trillion.
Rising incomes are expected to enhance the need for banking services in rural areas and therefore drive the growth of the Indian Banking Sector.
INDIAN BANKING INDUSTRY AT A GLANCE IN 2014 - 2015 
