India has a well-developed and distributed banking system with constituents of various size, ownership patterns, geographic locations, business focuses and thrust areas. While the Public Sector Banks (PSB) account for a major part of the total business, the Private Sector Banks, particularly the New Private Sector Banks, are also making significant in roads into the market share, driving the intensity of competition in the domestic banking sector. Some of the foreign banks that have operations in India play a prominent role in the personal and corporate banking segment, accounting for a major part of the off-balance sheet business growth.