Finance Minister Arun Jaitley today said the country needs global-sized institutions and proposal of SBI to merge its five associate banks with itself and acquire Bharatiya Mahila Bank is in line with the government's policy. <br/><br/>Mr Jaitley said consolidation is part of the Indradhanush package announced in the budget and banks have acted accordingly. State Bank of India yesterday proposed merger of its five associate banks and Bharatiya Mahila Bank with itself and sought the government's approval for the same.<br/><br/>In an interview to a TV channel, the Finance Minister said, the larger question is that India doesn't need so many banks in the public sector. He said, there is a need to reduce the number of banks by consolidating some of them. He further said, the banks have given their own opinion and if some banks have a contrarian view, the government will certainly look into it.