Banking, Financial Services & Insurance

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India's banking sector is sufficiently capitalized, well-regulated and offers a huge growth opportunities.

It has recently witnessed the roll out of innovative banking models like payments and small finance banks. The Reserve Bank of India (RBI) has granted in-principle approval to 11 payments banks and 10 small finance banks recently.

RBI's Vision document specifically mentions a "less-cash" society. The United Payments Interface (UPI) system is another page of the book. UPI allows users to make payments directly through their smartphones, without having to key in their card details or any password.

India is the 15th largest insurance market in the world and has the potential to grow exponentially in the coming years. The industry consists of 24 life insurance and 29 are non-life insurers.