Abstract
The Indian banking sector has undergone a paradigm shift in the past decades that is evolving from physical banking to now becoming digital anchors. It has witnessed transition from simple automation of paper work in branches to branchless banking today. According to the IBEF Report 2018 the Indian banking sector consist of 27 public sector banks, 21 private sector, 45 foreign banks, 56 regional rural banks, 1589 urban cooperative banks and 93,550 rural cooperative bank (Rushworth, 2018). The average coverage by the commercial banks increased from 14,000 in 2010 to 13,466 in 2011 to 12,921 in 2012 (Sharma, 2018). In the financial year 2018 the total lending increased at a CAGR of 10.94% while the total deposits increased at the CAGR of 11 %. With the Indian credit market being the fourth largest among the emerging economies. The banking industry has recently witnessed the innovative models like payment and small finance banks. The IBEF report showed that the value of public sector increased to US$ 1.52 trillion in FY17 from US$1.34 billion in FY16. The main changes that could act as the growth drivers for the Indian banking sector includes the banking regulation bill 2017 which will empower RBI to deal with NPAs in the banking sector, the insolvency and bankruptcy code ordinance 2017 has been passed with the motive to strengthen the banking sector (Rushworth, 2018).
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