Finance Minister Nirmala Sitharaman on Tuesday mentioned that Indian banks have been being run professionally and had for the primary time clocked in income of
Rs 1.41 lakh crore within the final monetary yr. She mentioned that the general public sector banks have been protected, steady and wholesome and have carried out “exceptionally effectively” lately, incomes Rs 85,520 crore revenue within the first six months of the present fiscal.
Replying to a debate on the Banking Legal guidelines (Modification) Invoice, 2024, the minister mentioned that each one the general public sector banks have turned worthwhile. The Invoice, which amends the Reserve Financial institution of India Act, 1934; the Banking Regulation Act, 1949; the State Financial institution of India Act, 1955; the Banking Firms (Acquisition and Switch of Undertakings) Act, 1970; and the Banking Firms (Acquisition and Switch of Undertakings) Act, 1980; was handed by the Lok Sabha by a voice vote.
Stressing that the Indian banking system is crucial to the expansion of the nation, Sitharaman mentioned, “Since 2014 we now have been extraordinarily cautious in order that banks stay steady. The intention is to maintain our banks protected, steady, wholesome, and after 10 years, you might be seeing the end result”.
Banks are being professionally run at this time, she mentioned, including the metrics are wholesome to allow them to elevate bonds, loans and run their companies accordingly. “Indian banks have carried out exceptionally effectively lately. Highest-ever internet revenue of Rs 1.41 lakh crore was achieved in 2023-24 and Rs 85,520 crore within the first half of 2024-25. At this time, all the general public sector banks have turned worthwhile,” she mentioned.
