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According to the Reserve Bank of India (RBI), India’s banking sector is adequately capitalised and systematic. Additionally, India's financial and economic conditions are far better compared to those of other countries in the world. Moreover, credit, market, and liquidity risk studies show that Indian banks are generally resilient and have weathered the global downturn well.

Recently, the Indian banking sector has witnessed the rise of innovative banking models, such as payments and small finance banks. In recent years, India has also concentrated on improving the reach of its banking sector with the help of numerous schemes, such as Pradhan Mantri Jan Dhan Yojana and Post-Payment banks. 

These schemes, along with major banking sector reforms like digital payments, neo-banking, and the rise of Indian Non-Banking Financial Companies (NBFCs) and fintech, have greatly improved India's financial inclusion and helped boost the credit cycle in the country.

MBA Banking and Finance

Did you know that India has the 3rd largest FinTech ecosystem in the world?

According to experts, the Indian FinTech industry is poised to reach $150 billion by 2025. Moreover, India is one of the rapidly growing Fintech markets globally. Currently, there are over 2,000 DPIIT-recognized Financial Technology (FinTech) businesses in India, and this number is set to increase in the upcoming years.

According to recent reports, the digital payment system in India has developed the most among 25 countries, with India’s Immediate Payment Service (IMPS) being the only system at level five in the Faster Payments Innovation Index (FPII). Additionally, India’s Unified Payments Interface (UPI) has also transformed real-time payments, aiming to enhance its global reach in the upcoming years. 

India's Banking Landscape: Growth, Digital Transformation, and Key Statistics

Did you know that India's commercial banking sector consists of 12 public sector banks (PSBs), 21 Private Sector Banks (PVBs), 45 Foreign Banks (FBs), 12 Small Finance Banks (SFBs), 6 Private Banking Services (PBs), 43 Regional Rural Banks (RRBs), and 2 Local Area Banks (LABs)? 

Additionally, there are approximately 1,26,772 on-site ATMs and Cash Recycling Machines (CRMs), and Banks counted 2,796 ATMs in the first quarter of FY23, followed by 1,486 in FY22 and 2,815 in FY21. Apart from this, all bank accounts are now opened digitally, even in rural areas of India.

On the contrary, public banks and private banks generated interest income of approximately $128.1 billion and $95.7 billion, respectively, in 2024. Moreover, digital payments have remarkably grown in recent years, thanks to the joint efforts of the Government and RBI with all the stakeholders. As per the RBI's report on scheduled banks, the total deposits in all these banks increased significantly by ₹2.11 lakh crore (US$ 2,544 billion) as of July 12, 2024.

Why Choose Chandigarh University to Pursue an MBA (Banking and Financial Engineering) in Association with SBI and Tally?

Considering the rise of the banking and finance sector in India, there is nothing wrong with saying that the demand for skilled professionals will continue to rise in this field. Renowned as India's No.1 Private University, Chandigarh University offers a Master of Business Administration (Banking and Financial Engineering) program in association with SBI and Tally.

The program combines business management principles with in-depth knowledge of banking and financial services. Additionally, an MBA (Banking and Financial Engineering) in association with SBI and Tally at Chandigarh University helps you master various aspects of the banking and finance sector, such as financial management, banking operations, investment analysis, risk management, and strategic decision-making within the banking and financial services sector.


Furthermore, an MBA (Banking and Financial Engineering), in association with SBI and Tally, from Chandigarh University can make you eligible for various job roles, such as Financial Analyst, Investment Banker, Risk Manager, Equity Research Analyst, Financial Planner, and more.

Did you know: CU's Business & Management division globally ranked #401-450 by QS World University Rankings by Subject 2025

Conclusion 

In the Union Budget 2024-25, the Hon'ble Finance Minister of India, Smt. Nirmala Sitharaman, announced the establishment of 100 branches of India Post Payments Bank in the NorthEast region to enhance banking services. So, there is nothing wrong with saying that the future of the banking and finance sector in India is bright and promising. 

Therefore, pursuing an MBA (Banking and Financial Engineering), in association with SBI and Tally, from Chandigarh University can help you build a captivating career in this field. Register via CUCET and get up to 100% scholarship! Admissions Open! Apply Now!


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