Top 20 global banks by 2047? India dreams big
The government just held the third edition of the PSB Manthan brainstorming session, aiming to make India's public sector banks (PSBs) more competitive worldwide and improve customer service.
Big names from state-run banks, the Reserve Bank of India, and tech giants like Google joined in.
The big dream? By 2047, at least one or two Indian PSBs could rank among the world's top 20 banks.
Focus on tech, AI, and growing deposits
PSB Manthan is all about bringing more tech and AI into banking, making things smoother for customers and businesses alike.
There's a strong push to boost loans—especially for farmers and small businesses—with micro and small industries already seeing a solid 21% jump this year.
Instead of merging more banks like in 2019, the focus now is on growing deposits by increasing current and savings account deposits and reaching new markets.