Indian banks rise up the global rankings

One year after the mega merger of the erstwhile HDFC twins, Indian banks have cemented their spot further on the global stage. Each of the three Indian names—HDFC Bank, ICICI Bank and State Bank of India in the top 20 globally by market capitalization has improved their rank in the past year.

The top 100 has five Indian names, whose share in the combined market value of this elite set is also rising every year.

Meanwhile, the banking index continues to trail the benchmark Nifty, but industry experts are optimistic about the future of Indian banks, with private banks flexing their financial muscle.