India’s ambition to create at least two globally competitive banks among the world’s top 20 aligns with its broader developmental goals. The “Viksit Bharat 2047” roadmap envisions an economy capable of financing its own transformation. For this, financial institutions must be able to handle the scale of lending needed for green energy corridors, smart cities, and next-generation manufacturing.The rationale for consolidationIndia’s banking landscape has long been characterised by fragmentation, with a multi ...

AI imageCurrently, only State Bank of India (SBI) and The two-day conclave, organised by the department of financial services (DFS), is focused on preparing PSBs for future growth, modernisation, and global competitiveness, the official added. Key discussions include strengthening corporate governance, improving customer experience, enhancing risk management, cybersecurity, workforce transformation, and the use of artificial intelligence to modernise banking operations.The PSBs’ financial performance has se ...

The issue of globally competitive banks was deliberated during the first day of the two-day-long Currently, the country's largest lender One of the key points discussed was how to make at least two banks globally competitive and that too organically, the official said.India needs its two banks in the top 20 list, and the scale and size have to be achieved as part of the Viksit Bharat journey, the official added.Live EventsAsked if the consolidation of The meeting was chaired by the Department of Financial ...