India Targets Global Top 20 Ranking with Two Mega Banks by 2047
India aims to elevate two of its banks to rank among the top 20 globally as part of the 'Viksit Bharat 2047' vision. This goal was discussed at PSB Manthan 2025, focusing on growing the size and competitiveness of public sector banks. SBI and HDFC currently rank 43rd and 73rd worldwide.
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India has set its sights on positioning two of its banks among the world's top 20 by assets, part of the broader 'Viksit Bharat 2047' initiative. This ambitious target was a major focus during the recent PSB Manthan 2025, where senior government and banking officials convened to strategize the country's banking future.
Currently, the State Bank of India ranks 43rd globally, while HDFC Bank is 73rd. To bridge this gap, the discussions at the Manthan centered on organic growth strategies to boost two Indian banks into the top 20, underscoring an essential step in India's economic journey.
Key topics included bank board autonomy and the impact of recent financial reforms. With past initiatives in mind, leaders are keen to continue reforms such as Enhanced Access & Service Excellence (EASE) to ensure sustainable growth and resilience amid global uncertainties.
(With inputs from agencies.)
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