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India Mulls New Permits to Create More Larger & Stronger Banks
Millennium Post Delhi
|New Delhi 13July2025
The talks are at very early stages and there is no certainty the changes will be implemented or when any decisions could be expected
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NEW DELHI: Indian authorities are exploring steps to create more, larger and stronger banks to fund what is expected to be one of the fastest paces of growth in the world for coming decades.
Officials from the Finance Ministry and the central Bank (RBI) are discussing a variety of possible options including authorizing large companies to apply for banking licenses as long as they limit their shareholdings, incentivize non-bank finance companies (NBFCs) to acquire full banking permits, and make it easier for foreign investors to raise stakes in state-run banks, the sources said, asking not to be identified as the deliberations are private, Bloomberg reported.
The talks are at very early stages and there is no certainty the changes will be implemented or when any decisions could be expected.
Prime Minister Narendra Modi wants to convert India into a developed economy by 2047 and cement his legacy as one of the nation's most consequential reformers.
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