The finance ministry has scheduled a meeting of heads of public sector banks (PSBs) on March 4 to review bank financial performance and progress on financial inclusion schemes, among other things.
M Nagaraju, the Financial Services Secretary, will chair the meeting.
The meeting will also discuss and evaluate the progress of various financial inclusion programs, including PM SVANidhi Schemes.
This will be the first meeting following the presentation of the Union Budget 2025-26 in Parliament.
Between April and December of the current fiscal year, PSBs reported their highest-ever net profit of Rs 1.29 lakh crore, a 31.3 percent year-over-year increase.
Key financial metrics like record net profit growth, enhanced asset quality, and the buildup of sufficient capital buffers all showed notable improvements in PSBs' performance during the review period.
The net profits of the 12 state-owned banks rose 31.3% year over year in the first nine months of the fiscal year, reaching the highest-ever total net profit of Rs 1,29,426 crore and total operating profit of Rs 2,20,243 crore.
Furthermore, the finance ministry stated that the significantly low net NPA ratio of 0.59 percent (aggregate net NPA outstanding of Rs 61,252 crore) demonstrates improved asset quality.
They reported aggregate business growth of 11% year on year, with improved aggregate deposit growth of 9.8%. PSBs' total business amounted to Rs 242.27 lakh crore during the period.
