A cross-country comparison using the World Bank Financial Sector Database with several other economies, which have bank-dominated financial systems, reveals that banking sector in India is yet to match the size and outreach of the banking sector as prevailing in various other comparable economies.
According to this World Bank report,1 India has around 11 ATMs and nearly 11 bank branches per 100,000 people as compared to 119 and 47 in Brazil; 182 and 38 in Russia; 38 and 8 in China; 60 and 10 in South Africa; 58 and 10 in Singapore; 124 and 24 in UK as against the world average of 34 ATMs and 12 branches per 100,000 people.