Appreciating PSU banks' performances, he claimed that banking and insurance sectors were the only sectors where public sector firms continue to perform better than private players.
Viswanathan also spoke on proposals such as single demat account for all investments and credit cards for school students (above class 8th) to make them aware with the banking system.
Highlighting the growth of banking business since independence, he said the sector is currently valued at Rs 115 lakh crore and expected to more than double at Rs 288 lakh crore by 2020.
Viswanathan further said that about 70 per cent of business is being done by PSU banks, which were being accused of not providing the king services provided by the private banks.
He said the SBI group (SBI and its associates) holds 22 per cent of the market share in the country.
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