Reserve Bank governor Raghuram Rajan has said there is going to be a bigger opening because they could contemplate new rules for the entry of foreign banks. It may even allow them to take over Indian banks.
While every macro economic parameter is looking difficult, perhaps the most important one will be growth. CNBC-TV18 catches up with the chairman of the country's biggest bank, Pratip Chaudhury of SBI to get a sense of where the economy is headed in 2012.
The bank had guided to post 25% growth in advances in FY12 and it maintains the same. "We are giving interest on retail advances and there is a robust increase in the retail advances growth," Bhat explained.