Introduction

India has set an ambitious goal as part of its Viksit Bharat 2047 vision — to place two Public Sector Banks (PSBs) among the top 20 global banks by the year 2047. This milestone is not just about banking; it reflects India’s larger aspirations of economic power, financial stability, and global influence.

Public Sector Banks: Backbone of India’s Economy

Public Sector Banks like SBI, Bank of Baroda, Punjab National Bank, Union Bank of India, and others have historically played a vital role in:

• Mobilizing savings of millions of Indians
• Financing large-scale infrastructure projects
• Driving financial inclusion through schemes like Jan Dhan Yojana
• Supporting MSMEs and rural credit needs

These institutions form the foundation of India’s financial system and will be the drivers of India’s journey toward a developed economy.

India’s Vision: PSBs in the Global Top 20

The government’s roadmap under PSB Manthan 2025 sets the stage for PSBs to strengthen balance sheets, adopt new-age digital banking, and expand global reach. By 2047, the target is clear:

• At least 2 Indian PSBs in the Global Top 20 Banks list
• Making PSBs global leaders in scale, efficiency, and innovation

Key Strategies for Growth

To achieve this vision, PSBs are focusing on:

• Digital Transformation – AI, fintech partnerships, and seamless digital banking
• Global Expansion – Strengthening international presence in Asia, Africa, and beyond
• Risk Management & Governance – Adopting global best practices
• Customer-Centric Services – Competing with private players in service excellence
• Capital Strengthening – Ensuring strong capital buffers to meet global standards

Symbolism of Viksit Bharat 2047

The journey of PSBs toward global recognition ties directly with India’s growth story. With the Indian flag in the backdrop, PSBs symbolize:

• National pride
• Financial sovereignty
• India’s rise as a global economic powerhouse

PSB Manthan 2025: The Roadmap

The PSB Manthan 2025 initiative serves as the action plan, ensuring reforms in:

• Operational efficiency
• Credit growth
• Digital adoption
• International competitiveness

This roadmap lays the foundation for the 2047 vision.

Conclusion

India’s banking sector is gearing up for a transformative journey. Public Sector Banks are not just financial institutions; they are the pillars of Viksit Bharat 2047. Their success will reflect India’s success on the world stage.