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flag India explores bank mergers to strengthen banking sector for economic growth and 2047 development goal.

flag India’s Finance Minister Nirmala Sitharaman said on November 6, 2025, that the government is actively exploring ways to create larger, world-class banks through potential mergers and reforms, working with the Reserve Bank of India and major lenders. flag She emphasized the need for a stronger banking ecosystem to support India’s economic growth and its goal of becoming a developed nation by 2047, highlighting ongoing efforts to improve credit access, simplify processes, and promote local language services. flag While no final decisions have been made, discussions are underway on consolidating public sector banks, increasing foreign investment, and advancing financial sector reforms.

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