( PR4US.com | Press Release | 2017-08-24 22:30:31 )
Mumbai, India – August 24, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Commercial Banking Market in India 2017’ (https://www.researchonindia.com/commercial-banking-market-in-india-2021.html
). The enhanced spending on infrastructure, speedy implementation of projects, continuation of reforms, digital technology, demographic dividend, internet penetration, usage of smartphone and mobile banking apps, positive business sentiments, improved consumer confidence and more controlled inflation will provide further impetus to economic growth of the country. All these factors suggest that India’s banking sector is also poised for robust growth as the rapidly growing business would turn to banks for their credit needs and will witness huge growth in the next few years.
Netscribes’ latest market research report titled Commercial Banking Market in India 2017 states that Commercial Banking applications are gaining huge popularity due to increasing internet usage, convenience of availing daily transactions (discounts, special offers) through mobile banking apps, easy availability of short/long term loan and credit system, supported by the transformation of the Indian economy with several policy initiatives set to be implemented shortly.
However, despite increasing availability of banking services and products in the Indian financial market, the biggest risk to India's banks is the rise in bad loans (bad debts), corruption/scams and slowdown in the balance sheet growth with depressed profitability. Lack of internet usage education among elderly people and the remote rural population is also a challenge for the industry. Despite these hindrances, the banking sector is focused on offering better customer services and in other technology infrastructure developments. This will aid in improving the customer’s overall experience as well as give banks a competitive edge.
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