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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
In Q3 FY2024, Brent crude prices averaged USD 83.8/bbl, a decline of 3.3% q/q and 5.4% y/y due to high stockpiles in the US and a slowdown in China, raising concerns about sustained demand. In each of the months of Q3 FY2024, Brent crude prices ...
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Since FY2022, the mining and quarrying sector exhibited a rising gross value added (GVA) to the overall GVA. In FY2023, the sector's GVA stood at 1.84%, signifying an enhanced significance attributed to the implementation of government-led reforms ...
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The agribusiness sector plays an important role in India's economy, accounting for 16.6% of the country's GDP in FY2023 and 7.6% of total exports in 2022 (calendar year format). The sector employed approximately 43% of the country's total workforce ...
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India's renewable energy sector stands as one of the most rapidly expanding globally, buoyed by exceptional solar and wind resource availability and robust government policies. As of 2022, the International Renewable Energy Agency (IRENA) ranked ...
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In Q2 FY2024, India's banking sector remained resilient with local lenders being driven by robust profitability, higher expectations of growth and prudent risk management. In this period, the profitability of Indian banks exceeded pre-pandemic levels ...
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The Indian textile sector, ranking as the second-largest producer of MMF Fibre globally, plays a pivotal role in the nation's economy. India is the third-largest exporter of textiles & apparel worldwide, so the textiles sector significantly ...
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The Indian steel sector stands as a cornerstone of the nation's economy, playing a pivotal role in industrial development. Its robust contribution to employment, both directly and through backward and forward linkages, underscores its significance. ...
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