India’s banking sector has performed well over the past decade. Revenue grew fourfold from R54,000 crore in 2001 to R2 trillion in 2009. Profit after tax increased nearly nine times from R6,000 crore to R53,000 crore in the same period. The sector comprises 81 state-owned, private and foreign banks—with state-owned banks accounting for more than 70% of total banking assets, over 75% of total bank deposits, and close to 65% of net profit. Close to one million people work in banks in India, 78% of them at state-owned banks. The proportion of employees in private and foreign banks has increased from 9% in 2001 to 22% in 2009, though the overall number of employees in the banking system has remained stagnant. With a healthy growth in business, employee productivity rose at a compound annual growth rate of 20% between 2001 and 2009.
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Graphics by Yogesh Kumar; Compiled by Ashwin Ramarathinam & Pramit Bhattacharya