Finance Ministry Reschedules PSU Bank Review Meeting To May 6
The finance ministry has postponed a meeting with heads of public sector banks (PSBs) to May 6 for review of financial performance and other issues. Earlier, the meeting was scheduled for April 17. The meeting is expected to review the financial performance of banks and discuss targets for flagship schemes of the government, including Jan Dhan Yojana and Mudra Scheme for the financial year 2025-26, sources said. The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju. According to sources, the meeting would also discuss targets for flagship financial inclusion schemes, including PM Mudra Yojana, StandUp India and PM SVANidhi Schemes, for the current financial year. Public Sector Banks (PSBs) have posted the highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal, marking an annual increase of 31.3 per cent. The performance of PSBs has shown significant improvement on key financial parameters, like record net profit growth, improved asset quality, and build-up of adequate capital buffers, during the period under review. The 12 state-owned banks recorded a net profit growth of 31.3 per cent (year-on-year) to achieve the highest-ever aggregate net profit of Rs 1,29,426 crore and aggregate operating profit of Rs 2,20,243 crore in the nine months of the financial year. Further, improved asset quality is also visible from a significantly low net NPA ratio at 0.59 per cent (aggregate net NPA outstanding of Rs 61,252 crore), the finance ministry had said in a statement. They posted aggregate business growth of 11 per cent (year-on-year), with improved aggregate deposit growth at 9.8 per cent. Total aggregate business of PSBs reached Rs 242.27 lakh crore during the period. (This report has been published as a part of the auto-generated syndicate wire feed. Apart from editing the headline, no other editing has been done in the copy of the story by ABP Live.)
The finance ministry has postponed a meeting with heads of public sector banks (PSBs) to May 6 for review of financial performance and other issues.
Earlier, the meeting was scheduled for April 17.
The meeting is expected to review the financial performance of banks and discuss targets for flagship schemes of the government, including Jan Dhan Yojana and Mudra Scheme for the financial year 2025-26, sources said.
The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju.
According to sources, the meeting would also discuss targets for flagship financial inclusion schemes, including PM Mudra Yojana, StandUp India and PM SVANidhi Schemes, for the current financial year.
Public Sector Banks (PSBs) have posted the highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal, marking an annual increase of 31.3 per cent.
The performance of PSBs has shown significant improvement on key financial parameters, like record net profit growth, improved asset quality, and build-up of adequate capital buffers, during the period under review.
The 12 state-owned banks recorded a net profit growth of 31.3 per cent (year-on-year) to achieve the highest-ever aggregate net profit of Rs 1,29,426 crore and aggregate operating profit of Rs 2,20,243 crore in the nine months of the financial year.
Further, improved asset quality is also visible from a significantly low net NPA ratio at 0.59 per cent (aggregate net NPA outstanding of Rs 61,252 crore), the finance ministry had said in a statement.
They posted aggregate business growth of 11 per cent (year-on-year), with improved aggregate deposit growth at 9.8 per cent. Total aggregate business of PSBs reached Rs 242.27 lakh crore during the period.
(This report has been published as a part of the auto-generated syndicate wire feed. Apart from editing the headline, no other editing has been done in the copy of the story by ABP Live.)
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