The case for bigger public sector banks has returned to the policy debate just as the banks themselves are in much better shape than they were a decade ago. A new Economic Advisory Council to the Prime Minister (EAC-PM) paper says India should consolidate banks into a few large institutions of broadly comparable size to meet rising credit requirements and the ambitions of Viksit Bharat 2047. To be sure, this is not a government decision. As recently as May, Finance Minister of State Pankaj Chaudhary told the Lok Sabha that no proposal to merge or consolidate PSBs was under consideration.