Banking consolidation gathers pace in India

Capital requirements and the freeing up of foreign participation will quickly see the number of banks in India reduced by a third.

The room was packed when a panel of speakers convened to review IndiaÆs future as a global market at Sibos on Tuesday. The panel of four experts discussed IndiaÆs economic growth trajectory, its role as a services hub, the availability of qualified workers, and ultimately, the ongoing consolidation of the banking sector.

While the general feeling was positive, the expert speakers warned that the opportunities presented to local and foreign businesses in India come with some caveats. The government seems...

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