New Delhi, May 28 -- Our latest research, released as a global BCG report, highlights that over the last decade, cost productivity in Indian banking has continually declined. India stands out as the only major economy to witness such a decline, while most others improved consistently-with only a slight recent reversal.

This doesn't sit well with India's image as a high potential tech-savvy economy. We need a highly efficient financial system to support India's aspiration to be a 'developed' economy by 2047. A critical element of that is low intermediation cost-basically, the cost banks incur to connect savers and borrowers.

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