Whitepaper

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Transforming BFSI With IoT

The banking and financial sector in India is sufficiently capitalised and well-regulated according to report by The Reserve Bank of India (RBI). The BFSI sector in India has been quite stable and as a result, India has emerged to be financially and economically stable and superior to most other countries in the world. The Indian BFSI sector consists majorly of 27 public sector banks, 21 private sector banks, 49 foreign banks, 56 regional rural banks, 1,562 urban cooperative banks and 94,384 rural cooperative banks in addition to the cooperative credit institutions.