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TMI BlogPublic Sector Banks (PSBs) show strong performance in the First Half of FY 2024-25 with 11% Y-o-Y growthX X X X Extracts X X X X X X X X Extracts X X X X ..... Public Sector Banks (PSBs) show strong performance in the First Half of FY 2024-25 with 11% Y-o-Y growth - News and Press Release Dated:- 12-11-2024 - News - Public Sector Banks (PSBs) show strong performance in the First Half of FY 2024-25 with 11% Y-o-Y growth - - - Dated:- 12-11-2024 - Under the leadership of the Prime Minister, Shri Narendra Modi, and the guidance of the Union Minister for Fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nance 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, financia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l 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: The aggregate business stood at Rs. 236.04 lakh crore (11% YoY growth). Global credit and deposit portfolio grew by 12.9% and 9.5% YoY, and stood at Rs. 102.29 lakh crore and Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 133.75 lakh crore respectively. The Operating and Net Profit for H1FY25 was Rs. 1,50,023 crore (14.4% YoY growth) and Rs.85,520 crore (25.6% YoY growth) . The Gross and Net NPA stood at 3.12% and 0.63% as on Sep-24 (Gross and Net NPA declined by 108 bps and 34 bps respectively YoY) . The Capital to RWA assets ratio (CRAR) stood at 15.43% in Sep-24 against regulatory requirement of 11.5%. PSBs hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e also shown significant progress in adopting new age technologies like AI/ cloud/ Blockchain etc., upgradation of existing digital infrastructure, putting in place necessary systems/ controls to tackle cyber security risks and taking multiple steps to provide best-in-class customer services. - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... india.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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