Indian banks ahead of BRIC nations

Indian banks much ahead of the BRIC nations and developed countries.

The Indian banking system,on many parameters,is much ahead of that in the BRIC nations and developed countries as it has maintained resilience and continues to provide growth opportunities even in the current economic situation,industry body FICCI said in a study.

“Indian banking regulatory systems are better than those of China,Brazil and the UK. Risk management systems are more advanced than in China,Brazil and Russia,” it said.

The BRIC nations include Brazil,Russia,India and China.

In terms of credit quality,India is better than China,Brazil,Russia,the UK and the USA,while technology systems too are superior to Brazil and Russia,the study said.

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A majority of the respondents,consisting of 60 bankers,said,”The Indian banking industry is in a good and excellent shape.”

Over 50 per cent showed confidence that the sector would register a growth rate of 15-20 per cent in 2009-10,it said.

Some of the major strengths of the Indian banking industry,which makes it resilient in the current economic climate includes regulatory system,economic growth and relative insulation from external market,it said.

The respondents said the regulatory systems of the Indian banks were better than China,Brazil,Russia,the UK and are at par with Japan,Singapore and Hong Kong,it added.

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India’s risk management systems too are more advanced than China,Brazil and Russia and are at par with Japan,Hong Kong,Singapore,the UK and the US.

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