Market Trends of India Private Banking Industry
Increasing Private Sector Bank Assets is Driving the Market
Bank assets mainly comprise various kinds of loans given to their customers, banks' money reserves, and other securities. As of 2022, the private sector bank assets grew more than 15 % compared to last year. This increase in assets is due to the increased disposable income of customers and the fall in non-performing assets. These factors will boost the private banking sector in India, and the sector is expected to grow in the forecast period.
Increasing Disposable Income in Helping the Market to Grow
Disposable income is the amount of money a person or a household has to spend after tax deduction. Due to an increased disposable income, people can save more money and invest in financial assets, due to which the private banking sector has seen significant growth in the last few years. Along with this, various steps have been taken by RBI to increase bank deposits. This increase in bank deposits boosts the growth of the private banking sector.
