India’s growing economy needs bigger banks

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Finance minister Nirmala Sitharaman has said that India needs more banks the size of State Bank of India, or even larger..

Because SBI is also not in the top 10 (globally)," Sitharaman said in an interview with Mint..

In 2019, the government decided to merge at least 10 state-run banks to create four larger ones..

Also expected was a bank privatization programme aimed at raising efficiency in a banking sector with a long history of state dominance since Indira Gandhis bank nationalization in 1969..

Full story at mint | 

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