In the course of the first six months of FY25, credit score and deposit portfolio grew 12.9 per cent and 9.5 per cent YoY, and stood at Rs 102.29 lakh crore and Rs 133.75 lakh crore, respectively.
The working and internet revenue in the course of the interval was Rs 1,50,023 crore (14.4 per cent YoY development) and Rs 85,520 crore (25.6 per cent YoY development).
The gross and internet NPA stood at 3.12 per cent and 0.63 per cent, respectively, in September 2024, declining 108 bps and 34 bps YoY).
In an announcement, the finance ministry stated banking sector reforms and common monitoring have addressed many issues and challenges, and resulted in organising enhanced programs and processes for credit score self-discipline, recognition and determination of confused belongings, accountable lending, improved governance, monetary inclusion initiatives, expertise adoption, and so forth.
“These measures have led to a sustained monetary well being and robustness of the banking sector as an entire, which is mirrored within the present efficiency of the PSBs,” the assertion added. PSBs have additionally proven vital progress in adopting new age applied sciences like AI/cloud/blockchain, and so forth., improve of present digital infrastructure, putting in needed programs/controls to deal with cyber safety dangers and taking a number of steps to supply best-in-class buyer companies, it stated. The ministry additional stated main banking reforms corresponding to implementation of improve entry and repair excellence (EASE), enactment of Insolvency and Chapter Code (IBC), putting in a strong governance framework, organising of Nationwide Asset Reconstruction Firm Ltd (NARCL), amalgamation of PSBs, amongst others, have been undertaken in the previous couple of years.
The evaluation conferences chaired by Finance Minister Nirmala Sitharaman additionally facilitated deliberations on a variety of present and rising points with the chief executives of PSBs.
