The government has set a goal for two Indian PSBs to rank among the world’s top 20 banks by 2047.
The vision is part of the “Viksit Bharat” blueprint for economic transformation.
Structural reforms, digital adoption, and stronger governance are key to achieving the target.
PSBs will need to scale balance sheets, improve asset quality, and enhance profitability.
International competitiveness will require meeting Basel norms and global risk standards.
The target reflects India’s intent to strengthen state banks alongside private sector lea
ders.
Challenges include global competition, regulatory complexity, and capital adequacy needs.
Technology upgrades and customer-centric banking will be central to this transformation.
Experts say gradual consolidation and capital infusion will likely be required.
With sustained policy support, PSBs could emerge as global champions in the lon
g run.