New Delhi. Due to various measures taken by the government, the gross non-performing assets (NPAs) of public sector banks (PSBs) have come down to a decade low of 3.12 per cent at the end of September. In March 2018, the gross NPA of public sector banks was 14.58 percent. In the last three years, PSB has given a total dividend of Rs 61,964 crore.
The Finance Ministry on Thursday said that since 2015, the central government adopted the four ‘R’ strategy to address the challenges faced by public sector banks (PSBs). NPAs have reduced due to the four ‘R’ measures of the government i.e. recognition, recapitalization, resolution and reform. According to the ministry
Under this, steps were taken for transparent identification of NPA, its resolution and recovery of bad loans, infusion of capital into PSBs and reform of the financial system.
According to the data, the capital adequacy ratio in PSBs improved by 3.93 percent to 15.43 percent in September, 2024, which was 11.45 percent in March, 2015.
Public sector banks earned the highest ever net profit of Rs 1.41 lakh crore during FY 2023-24, up from Rs 1.05 lakh crore in FY 2022-23. In the first half of the current financial year 2024-25, this figure has been Rs 0.86 lakh crore. The Finance Ministry said that public sector banks are expanding their reach to every corner of the country to increase financial inclusion. Their capital base has strengthened and their asset quality has improved. Now they are able to raise capital from the market instead of depending on the government for capital. 54 crore Jan-Dhan accounts and more than 52 crore unsecured loans sanctioned under various flagship financial schemes including PM-Mudra, Stand-up India, PM-Swanidhi, PM Vishwakarma to strengthen financial inclusion in the country Are.
The ministry said that under the Mudra scheme, 68 per cent beneficiaries are women and under the PM-Swanidhi scheme, 44 per cent beneficiaries are women. According to the Finance Ministry, the number of bank branches increased to 1,60,501 in September, 2024, which was 1,17,990 in March, 2014. Of these 1,60,501 branches, 1,00,686 branches are in rural areas and towns. The gross credit of scheduled commercial banks has increased significantly to Rs 175 lakh crore in March 2024. It had increased from Rs 8.5 lakh crore to Rs 61 lakh crore during the financial year 2004-2014.
