Top 10 Leaders in BFSI - 2022

Banking is delightful. It not only gives the impulse to Capitalism such as Credit but also proves to be consistent as every field came after the Banks and remained prove worthy. Thus, banking system is the most important and integral part of the economy for any country. Hence, Banks are the roots of every setup which can be owned by one.

As per the Reserve Bank of India (RBI), India's banking sector is sufficiently capitalised and well regulated. The financial and economic conditions in the country are far superior to any other country in the world. Presently, the Indian banking system has 12 public sector banks. The sector includes 22 private banks and 46 foreign banks, 56 regional rural banks, 1485 urban cooperative banks, and 96,000 rural cooperative banks. Today, ATMs in India together dispense an average of 2,600 billion per month, which is more than 10 percent of the currency in circulation. Banks have effectively used ATMs to provide basic banking services to customers at any time of the day and in a cost effective manner.

The data from the credit, market and liquidity risk studies comprehend that the Indian banks are in general resilient and have fought very well the economic depressions caused due to pandemic. Now, the Indian banking industry has been rolling out banking models like payments and small finance banks and RBI's new measures might help in restoring the expansion of the domestic banks. During FY16-FY21, bank credit increased at a CAGR of 0.29 percent.  As of FY21, total credit extended surged to $1,487.60 billion. During FY16-FY21, deposits grew at a CAGR of 12.38 percent and reached $ 2.06 trillion by FY21.

The leaders in the Banking Financial Services and Insurance are proactively notifying the growth through their exclusive strategies and thoughtful calculations. In this edition of the CEO Insights magazine, a list of `Top 10 Leaders in BFSI - 2022' is presented to the readers to deliver the development by the leaders and their respective journeys. The listing is prepared by a team of industry veterans, CEOs and VCs, and the CEO Insights editorial board.