Home / Economy / News / India needs more global sized banks to help achieve $5 trn economy: CEA

India needs more global sized banks to help achieve $5 trn economy: CEA

He rued the fact that India has only one bank in top 100 global bank list while a country much smaller in size has more such banks

Premium

Chief Economic Adviser Krishnamurthy Subramanian at his office in New Delhi. PTI

3 min read Last Updated : Aug 24 2020 | 1:03 AM IST

Chief Economic Adviser K V Subramanian on Sunday said that India needs more global sized banks to help the country achieve $5 trillion economy by 2024-25.

He rued the fact that India has only one bank in top 100 global bank list while a country much smaller in size has more such banks.

State Bank of India (SBI) at the 55th position is the only bank in the global top 100 list. China has 18 banks while the US has 12 in the list.

"India is the fifth largest economy in the world. So, if the Indian banking sector was proportional to the

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in