Banking & Financial Services Industry Overview

INSURANCE & FINANCIAL PLANNING INDUSTRY

  • Life Insurance Market is estimated to grow at a compounded annual growth rate (CAGR) of 14.1%.
  • India expected to become the Third-largest market for Life Insurance in the world by 2020.
  • In the Non-Life Insurance industry, Health Insurance is the second largest segment in India.
  • The Indian health insurance industry is expected to grow at a CAGR of 37.2% over the next few years.
  • Scope for massive employment and advisory services in both the public and private sectors playing an active role.
  • Massive Funds inflow from FIIs, FPIs, and NRIs into Financial/Investment Products due to the growth trajectory of India would augment the need of Comprehensive Financial Planners.
  • BANKING & FINANCIAL SERVICES INDUSTRY

    • Indian economy is on its way to becoming the 5th largest Banking industry in the world by 2020 and 3rd largest by 2025.
    • Size of the current Indian Banking industry worth USD 1.31 Trillion.
    • Indian Banking sector consists of 27 Public Sector Banks, 25 Private Sector Banks, 46 Foreign Banks, 56 Regional Rural Banks (RRBs) and over 90,000 credit cooperatives.
    • The Banking and Financial Services Industry is expected to recruit over 2 million people in the next decade.