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Bloomberg Quint
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Nirmala Sitharaman To Meet PSU Bank Chiefs To Review Performance
- Finance Minister Nirmala Sitharaman to meet heads of public sector banks on June 27 to discuss financial performance and government schemes implementation.
- Meeting follows RBI's rate cut and cash reserve ratio reduction to boost economy.
- Review to include assessing banks' targets for the year and urge for increased lending to productive sectors.
- Discussion expected on schemes like Kisan Credit Card, PM Mudra, and social security programs.
- Public Sector Banks saw a record profit of Rs 1.78 lakh crore in fiscal year 2025.
- State Bank of India alone contributed over 40% of the total profits.
- SBI reported a net profit of Rs 70,901 crore in fiscal year 2025.
- Punjab National Bank and Punjab & Sind Bank also experienced significant profit growth.
- All 12 public sector banks reported a rise in profit during the year.
- Meeting aimed at boosting economic growth, aligning with government schemes, and reviewing financial performance of public sector banks.
- Finance Minister may push banks to increase lending to support economic growth.
- Focus on evaluating progress of various government schemes and performance targets.
- Review key metrics and performance of public sector banks to enhance their contribution to the economy.
- Public sector banks' cumulative profit surged in fiscal year 2025 compared to the previous year.
- Expectations of discussing various segments and progress in government schemes during the meeting.
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