The Finance Ministry has postponed its performance review meeting with the heads of public sector banks (PSBs) by one day. The meeting will now take place on March 5 instead of the earlier scheduled March 4.
This meeting, led by Financial Services Secretary M Nagaraju, will assess the financial performance of PSBs and review their progress on financial inclusion programs, among other topics.
It will be the first such meeting after the presentation of the Union Budget 2025-26 in Parliament.
Strong Financial Performance of PSBs
During April-December of the current financial year, the 12 PSBs recorded their highest-ever net profit of ₹1.29 trillion, reflecting a 31.3% annual growth.
Public sector banks have shown strong improvement in key financial areas, including:
- Record net profit growth
- Better asset quality
- Stronger capital reserves
The net non-performing asset (NPA) ratio has dropped significantly to 0.59%, with total NPAs standing at ₹61,252 crore, as per the Finance Ministry.
Additionally, PSBs reported an 11% growth in total business (compared to last year), supported by a 9.8% rise in deposits. The total business of public sector banks reached ₹242.27 trillion during this period.
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