Public Sector Banks (PSBs) in India have recorded their highest-ever aggregate net profit of around 1 lakh 41 thousand crore in the financial year 2023-24.
Meanwhile, the Gross Non-Performing Assets (GNPA) ratio has declined, dropping to 3.12 percent in September this year. This is a steep decline from the peak GNPA of 14.58 percent in March 2018.
The Finance Ministry revealed that the PSBs have also contributed significantly to shareholder returns, paying a total dividend of almost 62 thousand crore rupees over the past three years.
Their Gross Non-Performing Assets (GNPA) ratio steeply declined to 3.12% in September 2024. The Gross NPA ratio of PSBs has witnessed a remarkable improvement, declining to 3.12% in September 2024 from a peak of 14.58% in March 2018, it added.
