What is Banking Domain

The Indian banking sector is widely divided into organised and unorganised.  The organised includes Reserve Bank of India, commercial banks, co-operative banks and specialised private financial institutions (Industrial Credit and Investment Corporation of India or ICICI Bank Ltd). The unorganised sector consists of private money lenders and indigenous bankers, which includes individuals and private firms who provide credit through simple documentation and charge a high rate of interest on it.

The banking industry is progressing exponentially in India in terms of ease of use, digitalisation, access to everyone, customer service, etc. While countries like the US, UK, Canada have gone fully digital, India has progressed well in the recent past.