As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalized and well-regulated. Global rating agency Moody’s has upgraded its outlook for the Indian banking system to stable from negative based on its assessment of five drivers including improvement in operating environment and stable asset risk and capital scenario. The Reserve Bank of India (RBI) has granted in-principle licences to 10 applicants to open small finance banks, which will help expanding access to financial services in rural and semi-urban areas.
Let’s take a look at some of the industry challenges:
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