India needs 4 or 5 more banks like State Bank of India (SBI): Finance Minister Nirmala Sitharaman

 Finance Minister Nirmala Sitharaman said that we need to scale up banking to meet changing requirements in light of the shifting recent realities of the economy and industry. “India needs four or five more banks like the State Bank of India (SBI)," said Nirmala Sitharaman. 

She was delivering the keynote address at the 74th Annual General Meeting (AGM) of the Indian Banks' Association (IBA) in Mumbai today (September 26). She began her address by paying homage to all in the banking industry who lost their lives serving the nation through the COVID-19 pandemic.

India needs four or five more SBIs, we need to scale up banking to meet changing requirements in light of shifting recent realities of economy and industry I want you to think how Indian banking has to be in the immediate and long-term future