Public Sector Banks Strengthen, Outperform Private Counterparts

Public sector banks have shown increased resilience and credit growth compared to private banks. They focus on efficiency, transparency, and trust. Initiatives like specialized branches aim to drive inclusive growth and support MSMEs and startups, crucial for India's economic development.

Public sector banks have emerged stronger and more resilient, with their credit growth surpassing that of private banks, according to Financial Services Secretary M Nagaraju.

Nagaraju highlighted improvements in banking practices, such as due diligence and credit underwriting standards, while inaugurating Punjab & Sind Bank's MSME Sports Cluster Branch in Jalandhar.

Emphasizing the need for inclusive growth, specialized branch initiatives were launched, targeting MSMEs, startups, and empowering entrepreneurs through sector-specific financial solutions.

(With inputs from agencies.)