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New Delhi [India], September 26: India's banking sector is not just growing--it's growing with purpose. This was the key takeaway from the CNBC-TV18 3rd Banking Transformation Summit, presented by Nucleus Software, where regulators, bank leaders, and fintech innovators convened to chart the sector's future.

RBI Deputy Governor M. Rajeshwar Rao highlighted the sector's resilience and growth: India's banking sector has demonstrated strong resilience and growth, with credit expanding at an average of 10.5% over the last five years. Addressing a gathering of banking sector experts and leaders at a banking summit Rao informed that retail lending now constitutes 32% of total credit, while credit to MSMEs which contribute 30% to India's GDP has grown steadily to form 18% of total lendi

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