Shaktikanta Das Calls for Mega Banks and Deeper Bond Markets to Fuel Growth
Public Lokpal
October 28, 2026
Shaktikanta Das Calls for Mega Banks and Deeper Bond Markets to Fuel Growth
Former RBI Governor and Principal Secretary to the Prime Minister, Shaktikanta Das, has stressed the need for larger Indian banks and a deeper corporate bond market to propel India’s economic expansion.
Speaking at a financial summit in Mumbai, Das highlighted that India requires globally competitive financial institutions capable of underwriting large-scale infrastructure projects and standing among the world’s top banks over the next decade.
He noted that while Indian banks enjoy historic balance sheet strength—with gross NPAs dropping below 2%—the corporate debt market remains underdeveloped at around 15–16% of GDP.
Das called for moving away from private placement dominance toward active public bond issuances, widening the retail investor base, and strengthening municipal bond markets.
Scaling credit, expanding pension coverage, and deepening secondary market liquidity remain essential pillars for building a resilient, long-term financial system for India.