Govt, RBI Weigh Options on NBFCs

WHILE THE TALKS are still at a very early stage, there will obviously be several conditions, such as prescribing limits for how much stake the conglomerates could hold in the banks and what kind of control they will wield.

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Right now only two Indian lenders — State Bank of India and HDFC Bank — feature in the top 100 global banks by total assets. SBI is ranked 43rd globally by assets and HDFC Bank is ranked 73rd. The government wants at least a couple of banks in the top ten globally, officials said.

India has 12 public sector banks, 21 private sector banks and 11 small finance banks. There are also about 44 foreign banks and 5 payment banks operating, among others.