He may have struggled to mend India’s broken banking system, but at least Prime Minister Narendra Modi is shrinking the number of state-run banks to 19 from 26. Jayakumar, Bank of Baroda’s current boss, to make a success of the merger: Reduce the emphasis on lending and embrace investing. State-run banks’ strength lies in their branch network, especially outside of metropolitan areas. There are now plenty of new-age, specialist retail lenders in India. Some of them, such as Bandhan Bank Ltd. and AU Small Finance Bank Ltd. are among the most valuable lenders in the world because of their expertise in selecting creditworthy borrowers.

Source: Washington Post September 18, 2018 07:41 UTC