Banking, Finance, Insurance and Securities (BFIS) News

With the Indian economy growing at a brisk clip of nine-plus per cent per annum, there is growing global and domestic interest in the nation’s banking industry. Experts have also projected that India would-emerge as the third largest banking hub in the world by 2040. The banking sector will grow significantly faster than GDP in the ‘E7’emerging economies of China, India, Brazil, Russia, Indonesia, Mexico and Turkey. The financial sector in India had an overall growth of 15 per cent, which has exhibited stability over the last few years. The Reserve Bank of India (RBI) played a dynamic role in the growth of the-financial sector of India.Insurance sector in India is one of the booming sectors of the economy and is growing at the rate of15-20 per cent annum. Together with banking services, it contributes to about 7 percent to the country's GDP. The latest data from the US Treasury Department shows that India owned American securities worth $39.4 billion in July 2010 as compared to$36.4billion in the previous month. A large number of Banking news, Finance news, Insurance and Securities news, News from Banking, Banking and financing public news notices and Insurance news notices afloat world wide.