Number of banks reached 161 banks in 2018 in India, according to the National Central Bank. This is 0.617 % less than in the previous year.
Historically, number of banks in India reached an all time high of 296 banks in 2004 and an all time low of 151 banks in 2014. When compared to India's main peers, number of banks in Bangladesh amounted to 58.0 banks, 192 banks in China and 34.0 banks in Pakistan in 2018.
India has been ranked 9th within the group of 151 countries we follow in terms of number of banks, 3 places above the position seen 10 years ago.