Time ‘ripe’ to consolidate public banks – RBI’s Gandhi
Consolidation could help banks spread their risk and compete on a global scale
"Several congruent factors" imply the time is right for Indian public banks to consolidate, Reserve Bank of India (RBI) deputy governor R Gandhi told a banking conference on April 22.
Gandhi noted that while India is ranked seventh worldwide in nominal GDP terms, there is no Indian bank in the top 70 global banks. Larger banks can enjoy economies of scale and can better diversify their risks, so they are better placed to compete on a global scale, he said.
Furthermore, global banking regulations
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