Till recently, it was focusing on the corporate and commercial lending side of the business that has seen it rake up a balance sheet size of Rs 1.36 lakh crore in merely 11 years of operations.
The bank is looking to grow 10 per cent above the industry average. "Our investors expect it," says Managing Director and CEO Vishwavir Ahuja who has managed to transform the erstwhile Ratnakar Bank into the country's fastest-growing small bank.
The bank has been using the developments in the digital world to streamline operations. It has been investing a lot in data warehousing, social media linkages, data analytics and mobile-based innovations.
Payments banks will penetrate the remotest villages - possibly with a lot of help from the mobile phone. Their success will depend on how they approach the market and their value propositions.
In the past four years, the gross NPAs of banks have climbed up from 2.36 per cent to 4.3 per cent of total assets to Rs 3,23,344 crore.
Business Today-KPMG survey on India's best banks.
India's largest bank is using technology and banking correspondents in a big way to take financial services to remote areas.
One of the innovations, Mobile banking, has seen impressive growth. The proof is in the numbers. The bank clocked Rs 15,775 crore in mobile transactions for the full year 2014/15.
Payments banks have thrown their hats in the ring to take on an established banking industry on the back of innovations and first-mover advantage. Will the banks be able to counter with equal zeal?
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