Menu
Search

Foreign banks no longer a threat in India

By SiliconIndia   |   Monday, September 28, 2009   |    3 Comments
Print Print Email Email
News Content Image

Bangalore: Indian banks no longer see a threat in the foreign counterparts, due to the inadequate strategies. "Unless they bring in a lot more money and come up with a completely differently strategy, the foreign banks are no serious competition," said Aditya Puri, HDFC Bank, Managing Director. The competition has now turned between the private sector and public sector banks rather than the foreign and Indian banks. India, by and large, in the financial services sector, is an under penetrated market, reports The Economic Times. The ratio of retail loans to GDP, they are 10-12 percent, may be 14 percent arguably, depending on the estimates There are very few countries that have a ratio of less than 50 percent. Almost 60-70 percent of the people who come to borrow from the banks in India are first time borrowers. So, there's no shortage of demand in this country. GDP is growing at arguably 6 percent or 6.5 percent. That means, overall systemic credit is growing at about 18 percent. "I think, there's enough for everyone and if we handle it properly, we will continue to have a safe and secure banking system," he said.
Write your comment now
Submit Reset
Reader's comments(3)
1: EVEN IF THEDEMAND OF LOANS GETS ENHANCED, WE SURELY MUST BE ABLE TO HANDLE IT.
Posted by:RASHEE - 30 Sep, 2009
2: True.All banks foreign/local are equally talented in looting customers....
Posted by:GMA - 28 Sep, 2009
3: i think that's true. and it does not just hold true for the banking sector but for every sector.
Posted by:sagarika - 28 Sep, 2009
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit