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...RBI governor Urjit Patel, in the Third Kotak Family Distinguished Lecture delivered at Columbia University, stated that the system would be better off if public sector banks are consolidated into fewer but healthier banks. Gross bank credit of public sector banks has been decelerating from 2010. There was a temporary increase in credit of the State Bank of India group from September 2015 to March 2016, but even here the trend is one of decline. Restoring credit growth is vital for the growth of the economy and today it may be the single most important factor that could inhibit sustained growth. An important contributing element to this situation is the high level of stressed assets in the banks combined with little bank capital that can provide for losses on these assets. ...Live Mint on May 29, 2017, 2:37 a.m.