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Mumbai, Nov. 26 Consolidation in the banking industry is inevitable, said Mr H.N. Sinor, Chief Executive, Indian Banks’ Association. “As the economy is growing, there is an ever growing need for scale and size,” said Mr Sinor.

The consolidation process has already been kick-started in the banking industry and it can be seen in case of urban co-operative banks.

Mr Sinor said that the merger of State Bank of Saurashtra with State Bank of India is a good example of such consolidation process in the country. “It is also taking place in some private banks,” he said.

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