India has well-developed banking and financial institutions, ranking among the best in developing nations. The banking network extends through more than 300 commercial banks, including public sector banks (nationalized banks), private Indian banks and foreign banks. Among them there are three large internationally operating Dutch banks: ABN-Amro, ING and Rabobank.Indian private banks are the fastest-growing segment in the financial sector.
In addition to the normal banking network, special institutions like the Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), Unit Trust of India (UTI) and Mutual Funds form the base for long term funding to the Government Central Plan finances, and other long-term finances to the industrial and social sector. |
ICREON