India's financial institutions' assets touch $2.8 trillion

According to the Financial Stability Board, the value of assets held by India's financial institutions reached nearly $2.8 trillion, the third largest among BRICS nations in 2013. China leads with assets of $34.43 trillion, followed by Brazil with $4.91 trillion. Russia held assets of $2.75 and South Africa touched $1.06 trillion. The maximum amount of assets were held by banks last year, that includes deposit-taking institutions. Other Financial Intermediaries and Insurance companies also held assets of $335.1 billion and $310.8 billion respectively.