According to a recent report by the global management consultancy, McKinsey & Company has revealed that net banking has increased 7% in India, which means more account holders in the country are using the Internet for banking transactions. The report has also unveiled that branch banking has fallen by 15% points since then.

McKinsey & Company’s India Partner and Head of its Retail Banking Services, Renny Thomas said that it was the first time when net banking service in the country has improved 7%.

McKinsey’s 2010-11 survey has found that more account holders prefer to do transactions with the help of mobile phones as compared to bank branches.

Meanwhile, McKinsey & Company has predicted that some of the domestic banks will rise 10 times to $10 trillion in the next decade in China.

Thomas said that by 2020, at least four domestic banks will be in the league of the top 20 banks in the world. Chinese banks are over-regulated and controlled and their lending is directed by the government, while the Indian banks are market-driven.

The Chinese banking system is governed by four state-run banks: Industrial and Commercial Bank of China, China Construction Bank, Bank of China and the Agricultural Bank of China.