Analysing the Growth and Development of Indian Private Banking Sector: A Study

Vodnala Chandramouly

Abstract: For an economy to be robust and growing, it is absolutely necessary to have a reliable financial system. The banking sector is by far the most important subfield within the financial services business. The Indian banking sector is an essential component of the country's overall monetary and financial system. Throughout the course of the past two decades, India's banking sector has been subject to policies with varying degrees of responsiveness. The health of every given economy is, to a significant degree, inextricably linked to that of its financial system, particularly its banking sector. The performance of the banking sector is considered as a replica of the economic activities of the nation. This is because a strong banking system functions as the base of the social, economic, and industrial progress of a nation. The Indian banking industry is comprised of both private and public sector banks, hence the private sector banks in India are a component of the larger Indian banking sector. The main aim of the study is to analyze the growth and development of Indian private sector banks and Assessing the Online services and transfer of Money. For this, secondary data prioritized than primary data which is collected from various private banks websites and annual reports, using the financial data for the years 2018 to 2023.

Keywords: Banking, Private Banks, Performance, Growth and Profitable