Fewer, Bigger Banks Needed

This refers to ‘Public Sector Banks Need Urgent and Bold Reform’ (ET, Nov 8). Consolidation in the PSB space requires political will, which is missing. Agreed, even the smallest PSB now has total business of around . 2 lakh crore and a fairly large network, and merger with other banks is not an easy proposition. But for a sound and vibrant banking system, we need to have fewer strong banks instead of many smaller banks. A beginning can be made by merging identified small banks with their bigger cousins so the merged entity gains reach to acquire pan-India presence. 
- SRINIVASAN UMASHANKAR, Nagpur (ET)