News | |||
Home News News and Press Release Month 11 2024 2024 (11) This |
|||
|
|||
Public Sector Banks (PSBs) show strong performance in the First Half of FY 2024-25 with 11% Y-o-Y growth |
|||
12-11-2024 | |||
Under the leadership of the Prime Minister, Shri Narendra Modi, and the guidance of the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, major banking reforms like Implementation of Enhance Access and Service Excellence (EASE), enactment of Insolvency and Bankruptcy Code (IBC), putting in place a robust Governance Framework, setting up of National Asset Reconstruction Company Ltd. (NARCL), amalgamation of PSBs among others., were undertaken in last few years. The review meetings chaired by the Union Finance Minister facilitated deliberations on a range of current and emerging issues with the Chief Executives of PSBs. The reforms and regular monitoring have addressed many concerns and challenges, and resulted in setting-up enhanced systems and processes for credit discipline, recognition and resolution of stressed assets, responsible lending, improved governance, financial inclusion initiatives, technology adoption etc. These measures have led to a sustained financial health and robustness of banking sector as a whole which is reflected in the current performance of the PSBs as following:
|
|||