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Which of the following commercial banks of India comes in top 100 global banks?
1. ICICI Bank
2. State Bank of India
3. HDFC Bank
4. Kotak Mahindra Bank
5. None of the above/More than one of the above

1 Answer

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Best answer
Correct Answer - Option 2 : State Bank of India

The correct answer is SBI.

  • According to the Economic Survey for 2019-20, being the fifth largest economy, India should have at least six banks in the top 100 global list, and at least eight would be required for a country having a $5-trillion economy.
  • Chief Economic Adviser-K V Subramanian said (in 2020) that India needs more global sized banks to help the country achieve $5 trillion economy by 2024-25.
  • State Bank of India (SBI) at the 55th position is the only bank in the global top 100 list.
  • China has 18 banks while the US has 12 on the list.
  • The Chief Economic Adviser stated that 'India is the fifth largest economy in the world. So, if the Indian banking sector was proportional to the size of its economy, India should have been where South Korea is, which has six banks in the global top hundred. But in contrast, India has only one bank in the global top hundred'.
  • There is a need to focus more on data analytics, artificial intelligence and machine learning as banking has become more technology-driven.
  • Finland, Denmark, and Austria, which are a fraction of India’s size have a bank each in the list.
  • SBI Chairman- Dinesh Kumar Khara.

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