Talk is cheap. And if it reflects a ‘grand’ vision, it’s likely that even a lot of knowledgeable people will fall for it.
In this class falls the idea of consolidating Indian banks to enable them to compete globally. Sounds great, in tune with the zeitgeist. And if anyone argues, it can be dismissed as emanating from the small-minded.
Of course, bank mergers thoughts have sprung up from time to time before and forgotten when mundane matters or a crisis took over.
Michael Porter in his bookThe Competitive Advantage of Nations makes the point that global companies first succeeded in their home markets before venturing abroad. By this test, where do our banks stand?
At the bottom of the heap.
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