India aims to have 2 banks in top 20 globally
India has set an ambitious goal: get at least two of its public sector banks into the world's top 20 by asset size by the year 2047.
This plan was discussed at a high-level meeting in Delhi with senior bankers and government officials, aiming to boost India's banking reputation and keep up with global changes.
AI integration and regulatory updates
To make this happen, there's a big focus on using Artificial Intelligence to improve how banks work—think smoother customer service, smarter risk management, and better efficiency overall.
The government is also looking at updating old regulations to help banks compete globally and innovate more easily.
Right now, State Bank of India sits at number 43 worldwide for assets—so there's some catching up to do over the next couple of decades!