India should have 5-7 big banks ideally: Arvind Subramanian
Chief Economic Adviser Arvind Subramanian has said that five to ten years from now, the country should ideally have 5-7 large banks. He said that both public and private sector banks should be able to compete domestically and must be competitive internationally. Talking about the government's recapitalisation plan for public banks, he said it must be selective and incentive-based.