The strong banking sector in India has made India’s economy stronger and has paved the way for the progress of all the major sectors. The government has also recognized its contribution and has given impetus to the banking industry by improvising the banking policies and simplifying banking services. As per the KPMG-CII report, “Indian banking is most likely to become 5th largest by 2020 and 3rd largest by 2025. (Business Standard)
It has been seen that after the pandemic, there has been a surge in demand for jobs in banking, financial services and insurance. If you want to build a career in the banking domain, you must prepare yourself with one of the best certificate courses in banking and insurance that will equip you with the knowledge and skills required to progress in this industry.
BFSI sector in India includes Banking, Financial Services, and Insurance sector.
In India, there are 18 public sector banks, 22 private sector banks, 46 foreign banks, 53 regional rural banks, 1,542 urban cooperative banks and 94,384 rural cooperative banks.
The BFSI sector in India is expected to become the 5th largest in the world by 2020 and the third largest by the year 2025.
As per the RBI, India’s banking sector has enough capital and is well-regulated with excellent economic conditions.
The number of ATMs in India touched 213,145 out of which 47.5% of ATMs are located in rural and semi-urban areas.
As per the RBI, India’s foreign exchange reserves touched US$ 630.19 billion as of February 18, 2022
By 2025, India’s fintech market will touch Rs. 6.2 trillion (US$ 83.48 billion).
The growth of digitisation in the banking sector is yet another contributing reason for the growth of this sector. In 2020, India surpassed China with 25 billion transactions. It is expected that digital payments will be contributing 71.1% of the total payment volumes by 2025.
Looking at the above statistics, the BFSI sector has opened several new job avenues. Hence, if you are looking forward to a growing career, then it is time to consider being a part of the BFSI sector.

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