The document discusses new generation banking in India. It notes that there were 17 old generation banks pre-1991 that have been joined by 12 new generation banks post-1991 economic reforms. New generation banks are adapting to trends like growing incomes, consumerism, and technology usage. This has implications like anytime banking from anywhere, a dismantling of physical bank structures, and the rise of new risks and financial instruments. Recent developments in banking include increased collaboration between banks and insurers, a focus on retail banking, new products, and a shift toward branchless banking models.