Retail Banking Market in India 2021

In FY 2021 scheduled commercial banks (SCBs) recorded INR 154.44 Trn deposits, expanding at a compound annual growth rate (CAGR) of 9.55% during the FY 2017 – FY 2021 period. Credit off-take of SCBs reached INR 107.94 Trn in FY 2021 from INR 79.13 Trn in FY 2017, expanding at a CAGR of 8.07% during ...

11/1/2021 | Banking, Financial and Insurance Services (BFSI)

MSME Financing Market in India 2021

The Micro, Small, and Medium Enterprise (MSME) play a pivotal role in the Indian economy. In FY 2021, the MSME industry offered employment to more than 111 million people and was the second-largest employment-generating sector in India (agriculture is the largest). The sector contributes ~29% to th...

11/1/2021 | Banking, Financial and Insurance Services (BFSI)

E-payment Solutions Market in India 2021

The digital infrastructure in the country has developed rapidly in the past few years and created a potent technological ecosystem for the digital payments market. The e-payment solutions market witnessed growth during the pandemic because of the increased penetration of the internet in the country....

11/1/2021 | Banking, Financial and Insurance Services (BFSI)

Fintech Market in India 2021

Fintech is one of the highest-growing technology segments in India, bringing innovation in various applications including loans, payments, stock trading, and credit scoring. As of 2020, India accounted for the highest fintech adoption rate (87%) and is the biggest destination for investment deals wo...

10/1/2021 | Banking, Financial and Insurance Services (BFSI)

Global Open Banking Market by Financial Services (Banking and Capital Markets, Payments, Digital Currencies, and Value Added Services) and Distribution Channel (Bank Channel, App market, Distributors,...

Global Open Banking Market by Financial Services (Banking and Capital Markets, Payments, Digital Currencies, and Value Added Services) and Distribution Channel (Bank Channel, App market, Distributors, and Aggregators) - Global Forecast and COVID 19 Impact Outlook (2020-2026) Global Open Banking Mark...

1/1/2021 | Banking

Global Online Banking Market by Banking Type (Retail Banking, Corporate Banking, and Investment Banking) and Solution Type (Payments, Processing Services, Customer and Channel Management, Risk Managem...

Global Online Banking Market by Banking Type (Retail Banking, Corporate Banking, and Investment Banking) and Solution Type (Payments, Processing Services, Customer and Channel Management, Risk Management, and Others)- Global Forecast to 2026 Global Online Banking Market is valued at 13.63 USD Billio...

1/1/2021 | Banking

Global Cybersecurity in Financial Services Market By Organization Size [Small and Medium Sized Enterprises, Large Enterprises and others],By End User [Banks, Insurance Companies and Others], By Deplo...

Global Cybersecurity in Financial Services Market 2020 By Organization Size [Small and Medium Sized Enterprises, Large Enterprises and others],By End User [Banks, Insurance Companies and Others], By Deployment Type[Cloud-based and On-premise], By Type of Security[Network Security, Cloud Security, Ap...

1/1/2021 | Banking

Goabal Bancassurance Market By Type [Life Bancassurance and Non-Life Bancassurance], By Application [Old, Adults and Children]:Market Research Report 2021 Covid 19 Impact Outlook, Regional Analysis, ...

Goabal Bancassurance Market 2020 By Type [Life Bancassurance and Non-Life Bancassurance], By Application [Old, Adults and Children]:Global Forecast to 2026 and COVID-19 Impact Outlook Bancassurance Market is valued at 1.20 USD Million in 2019 and expected to reach USD 1.97 Billion by 2026 with the C...

1/1/2021 | Banking

Global Artificial Intelligence in Accounting Market By Application [Automated Bookkeeping, Fraud and Risk Management, Invoice Classification and Approvals and others],By Offering [Software and Servic...

Global Artificial Intelligence in Accounting Market 2020 By Application [Automated Bookkeeping, Fraud and Risk Management, Invoice Classification and Approvals and others],By Offering [Software and Services], By Technology[Machine Learning, Computer Vision, Context-Aware Computing and NLP], By Deplo...

1/1/2021 | Banking

Global Anti-Money Laundering Software Market By Component [Software and Service],By Product [Transaction Monitoring, Currency Transaction Reporting,Customer Identity Management and Compliance Managem...

Global Anti-Money Laundering Software Market 2020 By Component [Software and Service],By Product [Transaction Monitoring, Currency Transaction Reporting,Customer Identity Management and Compliance Management], By Deployment Type[Cloud and On-premise]:Global Forecast to 2026 and COVID-19 Impact Outlo...

1/1/2021 | Banking

In FY 2021 scheduled commercial banks (SCBs) recorded INR 154.44 Trn deposits, expanding at a compound annual growth rate (CAGR) of 9.55% during the FY 2017 – FY 2021 period. Credit off-take of SCBs reached INR 107.94 Trn in FY 2021 from INR 79.13 Trn in FY 2017, expanding at a CAGR of 8.07% during the forecast period. The COVID-19 pandemic and economic slowdown are affected the credit off-take of SCBs in FY 2021. However, consolidation of the big banks by the government and the introduction of various economic relief packages are likely to improve the business value of the major public sector banks in the country. Various government initiatives such as increasing the number of banks’ public service units in rural areas, the Pradhan Mantri Jan Dhan Yojana program, fand ree credit and debit cards with low transaction limits, drive the retail banking sector. Major players operating in the industry include Yes Bank Limited, Axis Bank Limited, Bandhan Bank Limited, State Bank of India Limited, and HDFC Bank Limited. Market segment insights In FY 2021, in terms of deposits, public sector banks held the highest market share (~61.26%), followed by private sector banks. The contribution of public sector banks, in terms of deposits, declined by 1.12 percentage points in FY 2021, as compared to FY 2020. Private sector banks registered a rise in the number of ATMs, both off-site and on-site, while public sector banks experienced a decline. There were 57,679 off-site public sector bank ATMs in FY 2019, whereas in FY 2020, the number fell to 56,379. Among these, most ATMs are in semi-urban areas. Key growth drivers of the market • To boost India’s economic growth, the Ministry of Finance and the Reserve Bank of India took measures jointly to extend the banking network, especially among the low-income population and in rural areas. • The use of cloud-based operations has enhanced the agility of banks. The introduction of core banking solutions has led to a rise in transaction volumes since customers can operate their accounts remotely. Almost all public and private sector banks leverage data analytics and automation technology to strengthen their business operations and improve customer satisfaction. Key deterrents to the growth of the market With the popularity of internet-based banking, fraudulent activities have surged. Incidents of credit card scams, spamming, spoofing, e-money laundering, ATM fraud, phishing, identity theft, and transactions through unauthorized cheques increased in FY 2019, as compared to FY 2018. This has led to customers’ dissatisfaction and loss of trust on web-based banking. ...

11/1/2021

The Micro, Small, and Medium Enterprise (MSME) play a pivotal role in the Indian economy. In FY 2021, the MSME industry offered employment to more than 111 million people and was the second-largest employment-generating sector in India (agriculture is the largest). The sector contributes ~29% to the country's GDP, which is expected to reach 50% by 2025. The industry's financing needs depend upon the nature, size, customer segments, and stage of development. Financial institutions have limited their lending exposure to the Indian MSME industry due to the high cost of services, the small ticket size of loans, and the limited ability of MSMEs to offer immovable collaterals. In 2020, the overall credit gap in the MSME industry stood at ~INR 14.53 Trn. Debt Demand of the MSME Sector in India: The overall debt demand by MSMEs amounted to ~ INR 105.50 Trn in 2020. In 2020, the estimated addressable debt demand was INR 44.66 Trn. Approximately 47% of the debt demand is non-addressable because of the presence of sick enterprises, MSMEs with limited operational capacities, and enterprises which voluntarily exclude themselves from formal financial services, as well as other factors. Credit Supply to the MSME Sector in India: In 2020, the overall credit supply, including both the formal and informal sectors, amounted to INR 110.40 Trn. The formal and the informal sectors contribute ~22.72% and ~77.28% to the overall credit supply, respectively. Impact of COVID-19: Small businesses are the most vulnerable to unexpected crises like COVID-19 because of their size, scale of business operations, and limited financial management resources. However, the government has announced several policy measures to minimize losses. The announcement of a targeted long-term repo operation (TLTRO) of INR 500 Bn, a grant of INR 3 Tn collateral-free automatic loans, INR 200 Bn subordinated debt to stressed MSMEs, and a complete ban on global tenders for procurement of goods and services for up to INR 2 Bn are a few of the crucial policy mandates. ...

11/1/2021

The digital infrastructure in the country has developed rapidly in the past few years and created a potent technological ecosystem for the digital payments market. The e-payment solutions market witnessed growth during the pandemic because of the increased penetration of the internet in the country. In the past few years, the payment acceptance infrastructure has improved, propelling market expansion. The introduction of digital payment portals by banks such as Axis Bank Ltd., HDFC Bank Ltd., and ICICI Bank Ltd has aided the development of e-payment solutions. Integration of payment services by telecommunication firms such as Airtel, Google, and MobiKwik for online transactions also helped in the process. Market insights: In FY 2021, the market witnessed 43.71 billion transactions. It is expected to reach 649.70 billion by FY 2027, expanding at a compound annual growth rate (CAGR) of ~59.57% during the FY 2022 – FY 2027 period. The value of e-payment transactions is expected to expand at a CAGR of ~24.64% during the forecast period. Technological advancements such as internet banking and contactless payments, along with improved internet connectivity, propel e-payment methods. Integration of payment services with popular non-banking mobile applications such as WhatsApp, Apple Pay, Amazon Pay, and Ola Money have made these payment options popular among millennials. Segment insights: The market can be segmented on the basis of types of payment methods – Real Time Gross Settlement (RTGS), Retail Electronic Clearing, and Cards. RTGS acquired the highest market share in terms of value throughout FY 2021. In terms of volume, retail electronic clearing held the highest market share, followed by card payments and RTGS. The total volume of retail electronic clearing expanded at a CAGR of ~49.29% during the FY 2019 – FY 2021 period. Retail electronic clearing comprises different modes of transactions such as National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), and National Automated Clearing House (NACH). Cards include payment via debit and credit cards. COVID-19 impact analysis: The value of e-payment transactions decreased in 2020 due to reduced business activities and lowered the annual income of people, while the volume increased significantly. In the wake of the pandemic, the National Payments Corporation of India (NPCI) encouraged customers and providers of emergency services to adopt digital payment systems to ensure safety of contactless transactions. It launched e-RUPI, a one-time contactless, cashless voucher-based mode of payment, which helps users redeem a coupon without a card, digital payments app, or access to internet banking. Digital transactions using UPI increased by 1.8 times of what it was before COVID-19 and is exhibiting steady growth even during Q2 FY 2022. However, the market witnessed slow growth in terms of value because several major sectors such as cross-border payments, travel, and hospitality/tourism, which operate through e-payments, were affected. ...

11/1/2021

Fintech is one of the highest-growing technology segments in India, bringing innovation in various applications including loans, payments, stock trading, and credit scoring. As of 2020, India accounted for the highest fintech adoption rate (87%) and is the biggest destination for investment deals worldwide. Within the country, some of the top fintech destinations are Mumbai, Gurugram, Bengaluru, New Delhi, and Hyderabad. Mumbai and Bengaluru together represent ~42% of the fintech hub in India. Market insights: The fintech market was valued at INR 2.30 Trn in 2020. It is expected to expand at a compound annual growth rate (CAGR) of ~24.56% between 2021 and 2026 to reach ~INR 8.35 Trn by 2026. Increased penetration of the internet and smartphones, and rise in partnerships between fixed service incumbents and fintech companies propel its growth. Furthermore, funding through the Start-up India initiative, financial inclusion and enablement, tax and surcharge relaxation, and financial support to promote digital payments drive the market. Furthermore, funding support by the Indian government under the Start-up India initiative, financial inclusion and enablement, tax and surcharge relaxation, and financial support to promote the use of digital payments have also propelled the growth of the industry. Major economic interventions such as demonetization, promotion of digital payments through the Digital India, and cashless economy movements have fueled the use of fintech. However, complex regulatory and compliance laws, concerns regarding data security, and threat of cybercrime are a few of the factors that impede growth. Major players operating in the market include PhonePe Private Limited, One97 Communications Limited (Paytm), One Mobikwik System Private Limited (Mobikwik), and PolicyBazar.com. COVID-19 impact analysis: The fintech market has benefited from the pandemic. With the onset of the pandemic, the fintech sector became the forefront of the country’s financial inclusion struggle. The adoption of digital payments and lending surged. The market witnessed ~40% rise in the number of digital transactions amid the lockdown. Owing to the fear of public gathering, people started shifting from traditional financial methods to cashless and digital methods of payment. The InsurTech segment experienced significant growth as people increasingly adopted life and health insurances. The market is expected to develop substantially with the surge in digital payments other financial technology solutions ...

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Goabal Bancassurance Market 2020 By Type [Life Bancassurance and Non-Life Bancassurance], By Application [Old, Adults and Children]:Global Forecast to 2026 and COVID-19 Impact Outlook Bancassurance Market is valued at 1.20 USD Million in 2019 and expected to reach USD 1.97 Billion by 2026 with the CAGR of 7.33% over the forecast period. Scope of the report This report analyses the global market for Bancassurance. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market. Key Players Banco Santander,BNP Paribas Cardif,Crédit Agricole,HSBC,Wells Fargo,NongHyup Financial Group,Société Générale,Nordea Group,ABN AMRO,American Express,Citigroup,Lloyds Bank Group,ING group and others Above mentioned companies were scrutinized to assess competitive landscape of global Bancassurance market. Report provides company profiles of each player. Each profile include company product portfolio,business overview, company governance, company financials, business strategies, manufacturing locations and production facilities, company sale, recent developments and strategic collaborations & partnerships, new product launch, company segments, application diversification and company strength and weakness analysis. Review period: (2016-2026) Historic Period: 2016 to 2019 Forecast Period: 2020 to 2026 Base Year: 2019 Unit: USD Billion This Bancassurance market report provides insights on new trade regulations, import export analysis, industry value chain analysis, market size, consumption, production analysis, capacity analysis, regional and segment market share, product launches, product pipeline analysis, impact of Covid-19 on supply chain, key regions, untapped markets, patent analysis, product approvals, continuous innovations and developments in the market. Regions • North America: U.S., Canada and Rest of North America • Europe: UK, France, Germany, Italy, Spain and Rest of Europe • Asia Pacific: China, Japan, India, Australia, Southeast Asia and Rest of Asia Pacific • Latin America: Brazil, Mexico, Argentina and Rest of Latin America • Middle East and Africa: Gulf Countries, Israel, Africa and Rest of Middle East and Africa Market Segmentation • Type o Life Bancassurance o Non-Life Bancassurance • Application o Old o Adults o Children Report Coverage • An overview of the global Bancassurance market • In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market • Global Bancassurance market revenue data historic and forecast analysis (2016 to 2026) • Characterization and quantification of the market segments for Bancassurance market • Market share analysis of key market participants and their competitive landscape Important Questions Answered by Global Bancassurance Market Report • What is the impact of COVID 19 epidemic on the global Bancassurance market? • Which is mostly affected region, country? • Which is the current largest and fastest-growing region? • What is the market size and growth rate of the global Bancassurance market? • What are current factors affecting the growth of market? • What are Key trends and opportunity areas? • Within Bancassurance market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment? • What are the major strategies adopted by leading market companies? • What are company challenges and essential success factors by marketsegment? • How company offerings and supply chain capabilitiesare shifting to meetemerging market needs? ...

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