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Rural And Semi-urban India Will Account For 58.33% Of Insurance Sector By 2010

March 31st, 2008

Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which finds that rural and semi-urban India is expected to account for 58.33% of the insurance sector by 2010.

The report “Opportunities in Indian Banking Sector” discusses the future prospects of different arms of the banking industry including rural banking, bancassurance, financial cards, mobile banking and the role of technology in rural banking and pension funds.

It analyses urban vs. rural banking in terms of deposit, branches, and credit, particularly emphasising the future outlook of rural banking.

Authors of the report state that the increasing number of millionaires in India is expanding the scope of wealth management services.

Also, bankable households in India are anticipated to grow at a CAGR of 28.10% during 2007-2011.

Analysts in the industry say that Rural and semi-urban centres account for 66% of total bank branches.

Additionally, ATM outlets in India increased at a CAGR of 28.09% from March 2006 to March 2007and the Indian Mutual Fund industry witnessed a growth of 49.88% from May 2006 to May 2007.

Key Issues Analysed in the Report:

• Evaluation of current market trends.
• Role of technology in the India banking industry.
• Pension fund industry in India.
• Drivers and constraints for credit and debit cards industry in India.

The study evaluates the opportunities, challenges and driving forces critical to the growth of banking industry in India and profiles major players in the Indian banking industry, including Bank of Baroda, State Bank of India, Canara Bank, Punjab National Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Citibank, Standard Chartered Bank, HSBC Bank, ABN AMRO Bank and American Express.

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