MUMBAI: A report published by the PM Economic Advisory Council has called for further consolidation of banks to create a few large institutions of similar size without compromising competition, as reforms over the past decade have sharply improved banking efficiency and reduced bad loans.

MUMBAI: A report published by the PM Economic Advisory Council has called for further consolidation of banks to create a few large institutions of similar size without…

The EAC-PM has proposed consolidating Indias public sector banks into a few large, comparable institutions to meet rising credit demand and finance the countrys growth towards…