BANGALORE: Indian banking sector is budding. The sector has reaped more financial rewards as the income of the inhabitants is booming with time. Banks are making use of latest technologies like internet banking and mobile banking paving way for rapid growth.

According to analysts, India has the potential to become the fifth largest financial sector in the world by 2020. The present growth rate in this sector is 8.5 percent every year and the economy is developing with revamped financial and monetary policies. In addition to this, banks in India have proved their worth contributing to this growth by making productive investments.

Here are the top ten banks that form the spine of the financial sector in India, reports Business Standard.

SBI

Rank: 1

Brand value: $6,563 Mn

State Bank of India ranks among the top 20 banks in Asia, while the trust and name it has built in India makes it the largest company in the financial and banking sector in the country. As new banks rush in to the private sector, the nationalized banks are tagged obsolete. However, SBI has been successful to change this general perception.

SBI forms the largest network of baking services employing over 2,22,033 employees with 14,816 branches in India and 180 branches extended over 34 countries.

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