As the banking sector is on the threshold of exponential growth, consolidation, reforms and compliance remain the dominant factors on the boardroom agenda.

The significance of India, the second fastest growing economy in the world, has been rising considerably in the world market. Notwithstanding this, only a robust banking system would be instrumental in upholding the enhanced levels of activities of the economy. Thanks to liberalization, improving economic conditions, changing consumer demographics and growing market opportunities, the Indian banking sector is growing at a steady pace and has been currently ranked among the most preferred banking destinations in the world. Thus, this sector has emerged as a key facilitator for sustaining the growth momentum of the Indian economy.

According to The 500 ranking based on net sales, SBI topped the league chart by maintaining the 6^th position from the previous year. India's top private sector bank, ICICI, has moved up three places from 12^th to 9^th position. Besides this, Punjab National Bank and Canara Bank have climbed up by one position each and occupied the 24^th and 27^th positions respectively. For the fourth consecutive year, the Indian economy witnessed a robust growth during 2006-07, according to the annual policy statement for the year 2007-08 released by RBI. The Central Statistical Organization (CSO) estimates that the real Gross Domestic Product (GDP) growth has accelerated from 9% in 2005-06 to 9.2% during the same period.

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