Ravikumar Pillai
Look at the top ten banks globally by asset value ranking. Four are Chinese, two each from the US and France and one each from the UK and Japan.
The largest Indian bank, SBI is ranked 45.
If India has to assert its global financial prowess, we need to strengthen our banking sector. Consolidation is the way. We need to go for M&A, worldwide investment and ownership flows. Our corporate sector needs to grow globally in terms of investments and partnerships. Our banks need to play a key role in both cross-border corporate financing and providing ExIm support.
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