India needs a lot more banks and a lot more large-sized ones to meet the growing needs of the country needs in the path of making a smart recovery post-pandemic disruptions, said Finance Minister Nirmala Sitharaman.

Speaking at the 74th Annual General Meeting of the Indian Banks' Association at Mumbai, Sitharaman said there was an urgent need to scale up banking to meet the growing needs of the industry and also to ensure that all economic centres of the country are covered with at least one physical or digital banking presence.