Expressing his optimism with the growing success of India on the world stage, the Union Finance Minister, P. Chidambaram, said on Sunday that he believes that by 2018, one of top five banks in the world would be from India.
Present at the 13th triennial conference of UCO Bank, FM said: "Our plan is to make six public sector banks reach the top 100 banks in the world."
Speaking on the influence and importance of his UPA government, he added that the government will make the Indian banking system world class in ten years to achieve the two targets.
He also spoke on the government’s decision in retaining majority ownership in its banks, saying that additional capital would be infused for this purpose.
He was also impressed at the achieved by the UCO Bank from a loss making unit to a profitable bank, but further advised the officials to improve on the industrial sector business-deposits and advances.