Niche banking will lead to Indian financial sector getting some niche and specialised players of global and Indian origin and create a focus on specific areas, which will help industries as well as the banking sector become more competitive and innovative. Elaborate.

18. Niche banking will lead to Indian financial sector getting some niche and specialised players of global and Indian origin and create a focus on specific areas, which will help industries as well as the banking sector become more competitive and innovative. Elaborate. (250 words, 15 marks)