A Hard Policy Reset to Make Indian Banks Shape Up

Writing in an opinion article for Mint , BCG’s Saurabh Tripathi and Aparajit Sudhakar outline why India’s banking sector needs a reset to drive productivity, foster competition, and accelerate digital innovation. BCG research reveals that India is the only major economy where banking cost productivity has declined over the past decade. To reinvigorate the sector, Tripathi and Sudhakar recommend that India focus on welcoming global players, expanding digital bank licenses, incentivizing AI-driven digitization, and redefining the traditional role of banks.