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Size Matters: What will it take for India PSBs to break into Global Top 20?

With a rank of 43, the State Bank of India (SBI) is currently the only Indian public sector lender in the latest S&P Global Market Intelligence ranking of the world's 100 largest banks by assets

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For India to place PSBs in the global top-20, policymakers need to accelerate consolidation, open targeted channels for foreign and private capital, deepen credit markets through corporate bonds, and scale up international operations | Illustration: Ajaya Mohanty

Harsh Kumar New Delhi

8 min read Last Updated : Oct 23 2025 | 9:59 PM IST

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At a two-day 'Manthan' (meaning 'churn') event of public sector banks (PSBs) last month - the first such summit hosted by the department of financial services (DFS) in the ministry of finance since April 2022 - the government set an ambitious target to see at least two to three state-owned banks break into the world’s top 20 by 2047.

During the event, DFS Secretary M Nagaraju said PSBs have moved beyond the phase of survival and stability and are now positioned to play a larger role as champions of growth, innovation and leadership in India’s march towards Viksit Bharat.

Topics : PSBs Banks finance sector