He rued the fact that India has only one bank in top 100 global bank list while a country much smaller in size has more such banks. Subramanian on Sunday said that India needs more global sized banks to help the country achieve $5 trillion economy by 2024-25. He rued the fact that India has only one bank in top 100 global bank list while a country much smaller in size has more such banks. State Bank of India (SBI) at the 55th position is the only bank in the global top 100 list. In addition to global sized banks, the chief economic adviser said India needs more banks.

Source: The Hindu August 24, 2020 04:18 UTC