The ascendency of India as an economic world power

When I was looking for news about India, I found that there was plenty of news items about Indian banking sector. State Bank of India has achieved a healthy amount of profit. This is surely good news for the bank.

Bloomberg wrote:

State Bank of India, the nation's biggest by assets, rose to near a record after reporting profit that beat analysts' estimates on soaring loans.

The bank, based in Mumbai, gained as much as 5 percent to 2,464 rupees on the Bombay Stock Exchange, 1 rupee below an all- time closing high on Jan. 8.

Then, there was a strike in the nationalized banks in which nearly 1 million workers take part.

Sify wrote:

Operations at an estimated 50,000 branches of nationalised banks across the country were affected Friday as workers proceeded on a daylong strike to protest the proposed merger of State Bank of India (SBI), India's largest commercial bank, with its associates.

Some 1.2 million employees, who struck work following a call by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank unions, were also protesting the large-scale entry of foreign banks in the country.

Today, I also saw in the news that Mizuho Corporate Bank Ltd. was going to make a strong tie with India.

AFP wrote:

Mizuho Corporate Bank Ltd. said Friday it has become the first Japanese lender to tie up with an Indian counterpart amid expectations of more Japanese investment in the fast-growing economy.

The bank, part of Mizuho Financial Group Inc., said it signed an alliance agreement with the government-run State Bank of India, the country's largest lender with 14,000 branches across the country.