On its Mint Road office, regulator RBI is trying hard. Last week, governor Y.V. Reddy floated the idea of a depositor protection fund. Earlier in the month, RBI released a scheme for “ensuring reasonableness of bank charges”. There is also the code of conduct and minimum standards that consumers can expect. Still, there are a litany of complaints. A high-level RBI source tells me banks don’t listen. The CEO of one of India’s top banks says when there are millions of customers, there will be hundreds of complaints. Yeah, right.

The years ahead will see action in three areas. One, consolidation smaller, weaker banks will be targets of larger, stronger ones. Two, new areas, particularly the rural and the SME segments. Three, more profits a fast-growing economy needs a fast-growing banking sector to serve it. The next 15 years of banking growth will depend on how the sector moves today. How soon it grabs its place in the global sphere remains to be seen.

gautam.chikermane@expressindia.com