How public sector banks scripted their turnaround

Public sector banks performed well in the March quarter of FY23. Earlier, PSB had several problems in the past including mounting NPAs, increasing number of defaulters, and lack of growth in deposits. Now things have changed. The reason behind this success varies from bank mergers to shifts in the customer base. Hamsini Karthik from the line of business outlines the factors that have led to this stellar growth earning Rs. 1 lakh crore profit.

The Ministry of Finance is focused on improving the financial situation of PSB. Their continuous efforts led to this excellent result. Although there have been positive developments, PSBs are still finding it difficult to perform in the equity markets. How did PSBs achieve this result? What are the reasons behind this? Was there a strategy that led to this excellent result? What is the way forward? Let’s discover them in this video.