Mumbai, Aug. 25 -- For India to meet its 'Viksit Bharat' targets, banking assets need to grow at 3.0-3.5 percentage points faster than its nominal GDP, according to a report by Boston Consulting Group (BCG) in association with FICCI and Indian Banks' Association.

The report emphasises that India is at a critical inflection point in its development trajectory, where the next two decades could transform today's momentum into sustained global leadership.

The growth of India's banking assets has been in tandem with its nominal GDP growth over the last 15 years, with the ratio of banking assets to nominal GDP hovering around 0.9x. The drive to Viksit Bharat requires a multiplier of 1.5x, it asserted.

Viksit Bharat goals will hinge on the ev...