Comparable cross-country data indicated that in 2001, this ratio, at 48 per cent for India, was lower than those prevalent in Asian economies such as Indonesia (101 per cent), Korea (98 per cent), Philippines (91 per cent), Malaysia (166 per cent) and much lower than developed economies, such as UK (311 per cent), France (147 per cent) and Germany (313 per cent).
In India, while the ratio of bank assets to GDP has increased significantly to a shade over 80 per cent in 2005-06 – obviously a consequence of the high credit growth in recent years - it is still lower than other emerging countries.