Public sector banks in the country are safe, stable and strong and have performed exceptionally well in recent years. Finance Minister Nirmala Sitharaman said that banks have made a profit of Rs.85,520 crore during the first six months of the current financial year. Responding to the debate on the Banking Laws Bill, 2024, he asserted that public sector banks have been profitable.
The Bill, which is amended by the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act. , 1980, was later passed by the Lok Sabha by voice vote.
The number of branches of scheduled commercial banks increased by 3,792 to 16,55,001 during September 2024. Out of which 85,116 branches belong to public sector banks. Stating that the role of the Indian banking system is important for the growth of the country, Sitharaman said that we are vigilant to ensure stability in the banking system from the year 2014. The intention is to keep our banks stable, safe, strong and after 10 years it has yielded positive results.
An amount of Rs.2.37 lakh crore has been deposited in the PM Jan Dhan account The profitability of all scheduled commercial banks as a sector has been highest in recent years. Which has 1.3% return on assets. Today, an amount of Rs.2.37 lakh crore is deposited in the PM Jan Dhan account. In the year 2014, the average amount deposited in the PM Jan Dhan account was Rs.1,065. Which has now increased to Rs.4,397.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
