Interdependence, Integration and Co-Creation

The Indian Banking landscape is vast and complex. The monolithic public sector banks and single unit co-operative banks comprise two distinct ends of the spectrum, with private sector banks, regional rural banks and foreign banks populating the intermediate space. The complexity of the banking system can be assessed from its pure bandwidth, straddling 21 public sector banks, SBI and its seven associates, 25 private sector banks, 29 foreign banks, around 100 regional rural banks and around 1800 urban co-operative banks. Between them, these banks have deposits of around Rs. 29 lakh crore, advances of around Rs. 2 0 lakh crore and investments of around Rs. Nine lakh crore. The deposits, advances and investment numbers clearly highlight the signal role essayed by Banks in propelling India's economic growth.