Finance Ministry to Review Performance of PSU Banks on Wednesday

The Finance Ministry has called a meeting of the heads of Public Sector Banks (PSBs) on Wednesday to review their financial performance for the second quarter and the first half of the current financial year.

The meeting will be chaired by Financial Services Secretary M. Nagaraju. This will be the first review meeting after Finance Minister Nirmala Sitharaman recently said that India needs large and world-class banks, and that the government is already working with the Reserve Bank of India (RBI) and the banks to achieve this goal.

According to official sources, the review meeting on November 12 will not only focus on the financial performance of public sector banks but will also review the progress of government flagship schemes implemented through these banks.

More updates of the meeting will be provided on Wednesday.

If we talk about bank profits, then Public Sector Banks in India have posted a record cumulative profit of Rs 49,456 crore in the second quarter of the current financial year. All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25. India’s largest public sector bank – SBI alone contributed 40 per cent to the total earnings of Rs 49,456 crore.

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