The Indian financial and economic conditions are much better than in many other countries of the world.Credit, market and liquidity risk studies show that Indian banks are generally resilient and have withstood the global downturn well.
According to the Reserve Bank of India, the nationalised banks, as a group, accounted for 49.5 per cent of the aggregate deposits, while State Bank of India and its associates accounted for 24.1 per cent. The shares of other scheduled commercial banks, foreign banks and regional rural banks in aggregate deposits were 18.2 per cent, 5.2 per cent and 3.0 per cent, respectively.
Nationalised banks held the highest share of 50.5 per cent in the total share. Foreign exchange reserves stood at, US$ 294.99 billion in January 2013 wherein the value of gold reserves was recorded at US$ 27.21 billion and that of foreign currency assets (FCAs) was at US$ 261.06 billion.
The value of special drawing rights (SDRs) was US$ 4.40 billion and the country's reserve position with the IMF was at US$ 2.30 billion. The number of mobile banking transactions in India has also increased in 2012-2013, wherein the total amount transacted showed a boost of 8.3 per cent growth.