Fun Fact: India boasts one of the largest banking networks globally, with a remarkable reach even in the most remote areas. As of the latest data from the Reserve Bank of India (RBI) in 2022, the country has a staggering 90,003 bank branches, serving the diverse financial needs of its vast population. This extensive network includes both public and private sector banks, contributing to the financial inclusion goals of the nation.

Furthermore, the Indian banking sector has witnessed substantial growth in recent years. According to the RBI, the total assets of scheduled commercial banks in India amounted to over ₹172 trillion (approximately USD 2.3 trillion) in the fiscal year 2021-22. This growth underscores the significant role that banks play in India’s economic landscape.

In addition to conventional banking, India has embraced technological advancements in the financial sector. The adoption of digital banking services has been substantial, with the number of digital transactions showing a remarkable increase. In February 2022 alone, the total digital payment transactions surpassed 5 billion, showcasing the rapid transition towards a digital economy in the country.

These numbers not only highlight the scale and importance of the Indian banking sector but also reflect the ongoing evolution and modernization of financial services in the country.