16 Largest Indian Banks by Assets
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Loading... - Akash Basu
- 03 Feb 2023
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In this article, we take a look at 16 largest Indian banks by assets. If you want to see more largest Indian banks by assets, go directly to 5 Largest Indian Banks by Assets.
India is a country with a huge economy that's growing quickly.
In 2021, India had a nominal GDP of $3.176 trillion, up from $1.676 trillion in 2010 and $468.4 billion in 2000.
For the July to September quarter of 2022, India's economy expanded by 6.3% year over year, slightly higher than the Reuters poll forecast of 6.2% year over year, and substantially faster than the growth rates of many leading nations.
India is also expected to grow substantially in the future too.
According to S&P Global's forecasts in November 2022, India's real GDP could grow by an average of 6.3% annually from FY2021 to FY2030, allowing the country to be the third largest in the world by the end of the decade. Currently, the country is the fifth largest in terms of nominal GDP.
India's population is also young, which offers the country another advantage.
The Ministry of External Affairs, Government of India writes in 2021, "India’s 1.3 billion people make it the second most populous country in the world, but with an average age of 29, it has one of the youngest populations globally. As this vast resource of young citizens enters the workforce, it could create a ‘demographic dividend’. A demographic dividend is defined by the United Nations Population Fund as economic growth resulting from a shift in a population’s age structure, mainly when the working-age population is larger than the number of dependents." Read More…
