At least five to six Indian banks will reach the top 100 global league over the next decade and the banking sector will remain the mainstay of the country’s economic transformation, according to a research report by international consultant McKinsey & Company.
“This is important that the industry is rapidly consolidating with the gap between winners and losers widening. At least five to six Indian banks will reach the top 100 global league over the next decade,” said the report. In the past decade, the banking sector in India has witnessed unprecedented growth. “At this critical juncture, as institutions try to anticipate the nature of the 2020 landscape, they have to live contend with five structural themes — a demographic dividend, globalisation of wholesale markets, payments and transactions intermediations, infrastructure development and changes in industry structure,” it added.
Source : indianexpress.com
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