- According to Nirmala Sitharaman, the Union Finance Minister, 12 public sector banks recorded a 50% increase in their total net profit for the second quarter that ended in September, coming in at $25,685 crore.
- She stated that “the government’s ongoing efforts to reduce NPAs and boost the health of PSBs are finally showing visible results.”
- In particular, SBI reported its highest-ever profit in Q2 of 13,265 crore.
