PGDB-Brochure.pdf - IFBI.com

About Banking, Financial Services andInsurance IndustryThe India growth story is an absorbing and inspiring one. Thanks to an effective fiscal and monetarystimulus, we were able to contain the effect of the global crisis on our economy. After growing at 9percent for four years before the 2008-09 crisis, our economy averaged has bounced back with an 8%plus growth rate which is expected to continue in 2011-12 and beyond. This growth is backed by enhancedsavings which is upwards of 30%, strong domestic demand and a large young populationThe pace of development for the Indian banking industry has been tremendous over the past decade and thefuture growth in India’s banking sector will remain high, bolstered by sound economic growth prospects. TheBanking Industry is expected to grow at a healthy rate of over 20% for the next 2 to 3 years.While Retail Banking will be the key growth area for Banks, other areas like Corporate Credit, SME Banking,cross selling of other financial products and services like Insurance, Mutual Funds, fee-based sourcesof income and technological upgradation will also be key growth drivers. The stress will be on expansion ofbranches. The banking industry is expected to go through a consolidation phase besides adopting other inorganicmeans of growth which includes mergers and takeovers. With only 30-35% of the population financiallyincluded, and the Indian banking industry is unsaturated. With a CAGR of well above 20%, the market definitelyhas scope to accommodate new players.All this is good news for the youth who are looking for careers, as Banks will require huge number of peoplewith pre-trained skills not only in banking domain but more importantly in customer service skills, sellingskills, hands-on skills on banking application software and an infectious positive attitude. In short… a modernbanking professional for the modern banking sector is the need of the hour.India’s financial services sector will enjoy generally strong growth during coming years, driven by rising personalincomes, high savings rates, corporate restructuring, financial sector liberalization and the growth of amore consumer-oriented, credit-oriented culture. This should lead to increasing demand for financial products,including consumer loans (especially for cars and homes)...2