EAC-PM paper suggests consolidation of banks of equal size without compromising market competition

The Economic Advisory Council to the Prime Minister proposed consolidating Indian banks into larger, equally sized entities. This consolidation aims to support the economy's growing credit needs and achieve Viksit Bharat by 2047. Recent mergers reduced public sector banks, bringing scale and potential operational synergies to the industry. Data shows improved efficiency in public sector banks, surpassing private banks in recent years.

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