As India aspires to become a developed country by 2047, it needs to consider extending more bank licences to non-banking finance companies (NBFCs) and universal bank licence for small finance banks (SFBs), said M Nagaraju, Secretary, Department of Financial Services (DFS) at the State Bank of India (SBI) banking conclave held here on Thursday.“...most of the credit offtake should be happening digitally (by 2047). And large amount should be happening. Even then, we would be requiring new banks. Banks which c ...