Indian public sector banks see 11% business growth, driven by increased credit, deposits, and profits.

Indian public sector banks (PSBs) have seen a significant 11% increase in their business, reaching ₹236.04 trillion in the first half of the current fiscal year. This growth is attributed to enhanced credit and deposit portfolios, up by 12.9% and 9.5% respectively, and a 26% rise in net profit. Non-performing assets (NPAs) have also decreased to 3.12% and 0.63%. Banking reforms, including the adoption of new technologies and improved governance, have contributed to this performance.

November 12, 2024
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