Nifty Financial Services Index is designed to reflect the behaviour and performance of the Indian financial market which includes banks, financial institutions, housing finance, insurance companies and other financial services companies.

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HDFC Life Insurance Company Ltd down for fifth straight session

HDFC Life Insurance Company Ltd is quoting at Rs 700.55, down 0.33% on the day as on 13:19 IST on the NSE. The stock jumped 5.99% in last one year as compared to a 25.32% rally in NIFTY and a 16.42% spurt in the Nifty Financial Services index.

India will require 20X growth in financial services sector with banking playing critical role to achieve an ambitious $30 trillion GDP by 2047: BCG-

FICCI and IBA in association with BCG released a report titled Banking for a Viksit Bharat at FIBAC 2024. As per the report, India’s ambition to achieve a $30 trillion GDP by 2047 will require a 20 times growth in the financial services sector, with banks playing a pivotal role. India, being a predominantly bank-led economy, will require the banking sector to play an anchor role while the other financial asset classes continue to grow much faster. This will require $4 Tn of capital base in banks, 1/3rd of which will have to be fresh capital deployment. India’s banking system is in a strong position today characterized by high profitability, robust capital adequacy, and low levels of non-performing assets (NPAs). This provides an ideal launchpad for the Viksit Bharat mission.

Financial services sector must grow 20x for India to reach $30 trillion GDP, says report

India aims to achieve a $30 trillion GDP by 2047, requiring significant growth in the financial services sector, especially banks. A report by BCG, FICCI, and Indian Banks Association highlights the need for $4 trillion in bank capital and emphasizes financial inclusion, digitization, and emerging technologies as key drivers for this growth.

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HDFC Life Insurance Company Ltd down for fifth straight session

India will require 20X growth in financial services sector with banking playing critical role to achieve an ambitious $30 trillion GDP by 2047: BCG-

Financial services sector must grow 20x for India to reach $30 trillion GDP, says report

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