India Banking Sector Report Q2 FY2026

There were 196 active scheduled banks in India in Q2 of FY2026, representing a 6% y/y decline. This contraction in the number of banks largely reflects ongoing consolidation and structural reforms within the banking sector. In recent years, the Government of India and the Reserve Bank of India have actively encouraged the merger of public sector banks to create stronger, more efficient, and globally competitive institutions.

This report provides a complete and detailed analysis of the "Banking and insurance" sector for India. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Banking and insurance" sector in India
• Crystallise the forces both driving and restraining this sector in India
• Ascertain India’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in India.
• Build a clear picture of trends, output and consumption for specific sub-sectors