Finance Ministry Gathers Bank Heads for Performance Review

The finance ministry is convening a meeting on April 17 to evaluate public sector banks' financial performance and outline targets for government schemes. With significant growth in profits and asset quality, PSBs show a 31.3% increase in net profits, enhancing financial inclusion strategies.

The finance ministry has announced a pivotal meeting set for April 17, where the performance of public sector banks (PSBs) will be closely reviewed. It aims to set ambitious targets for government schemes such as the Jan Dhan Yojana and Mudra Scheme for the fiscal year 2025-26.

Financial Services Secretary M Nagaraju will helm the discussions, focusing on evaluating the past fiscal year's results, which ended March 31. This includes assessing progress on financial inclusion schemes, notably the PM SVANidhi scheme, as sources have revealed.

PSBs have achieved a record net profit, rising 31.3% year-on-year to Rs 1.29 lakh crore during the current fiscal's April-December period. Their enhanced asset quality and capital buffers, alongside an aggregate business growth of 11%, underscore their impressive financial trajectory.

(With inputs from agencies.)