Finance Minister Arun Jaitley today said India needs fewer banks and mega banks which are strong to help the needs of common man.  He said economies of scale are of great help in the banking sector. <br />''<br />'' He was briefing media after the post-budget meeting of the Central Board of the Reserve Bank in Delhi.  Mr Jaitley said there has been a  reasonably high growth as far as revenues are concerned in the last 5 years.<br />''<br />'' Speaking on the occasion, RBI Governor Shaktikanta Das said transmission of rate cut by banks is an important issue. He informed that RBI will hold meetings with banks on the issue on the 21st of this month.