According to a report by the Boston Consulting Group (BCG) India, prepared in association with a leading industry organisation and Indian Banks Associations (IBA), Indian banking industry would be the world’s third largest in asset size by 2025 and mobile banking would become the second largest banking mode after ATMs. Furthermore, owing to the positive eco-system of the industry and regulatory and Government initiatives, mobile banking is anticipated to enhance from 0.1 per cent of transactions in a 45 per cent financial inclusion base in 2010 to 34 per cent of the transactions with 80 per cent rural inclusion base by 2020, as per the report.
While the Indian Government projects that qualified foreign
investors (QFIs) would invest US$ 50-75 billion in India’s equity and bond
markets, G Chokkalingam, Executive director and CIO, Centrum Wealth Management,
believes that Indian markets would witness record inflows, probably to the
extent of US$ 30 billion, by FIIs in 2012.
Such positive forecasts are being made owing to monetary expansions
in the West and considering that India would remain the second-fastest growing
economy in the world.