Public sector banks (PSB) heads have been called by the Finance Ministry on 4 March. The Ministry will hold a special meeting with them, in which the progress of financial performance and financial inclusion schemes of banks will be reviewed. According to PTI news, the meeting will be chaired by Financial Services Secretary M Nagaraju. It is reported that in this meeting, the progress of various financial inclusion schemes including PM Swanidhi schemes will also be discussed and reviewed. This will be the first meeting after the Union Budget 2025-26 is introduced in Parliament.
Most of the net profit ever
According to the news, in the April-December period of the current financial year, public sector banks have recorded the highest net profit of Rs 1.29 lakh crore, which shows a growth of 31.3 percent on an annual basis. Performance of public sector banks during the period under review has shown significant improvement on major financial parameters such as record net profit growth, better asset quality and the construction of adequate capital buffer.
12 public sector banks recorded 31.3 percent net profit increase
According to the report, in the nine months of the financial year, 12 public sector banks recorded a net profit increase of 31.3 percent (year-on), leading to the highest total net profit of Rs 1,29,426 crore and 2,20,243 crore ever. A total operational benefit of Rs. The Finance Ministry said in a statement that a better asset quality is seen even better than a much lower net NPA ratio of 0.59 percent (total outstanding NPA 61,252 crore). Banks recorded 11 percent (year-on-year) total growth growth with a better total deposit of 9.8 percent. During this period, PSB’s total business reached 242.7 lakh crore rupees.
Display -based revised incentive scheme
The government has released a revised amended incentive scheme for senior executives in public sector banks some time ago. Its criteria include returns on property and non-performing asset levels etc. The eligibility of banks for the scheme will assess the government -appointed committee on the basis of four criteria.
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