FinMin Defers PSU Bank Review Meeting to Mar 5

New Delhi, Feb 25 (PTI) The finance ministry has deferred performance review meeting with heads of public sector banks (PSBs) by a day to March 5.

The meeting, to be chaired by Financial Services Secretary M Nagaraju, would review financial performance and progress of financial inclusion schemes, among others, sources said.

Earlier, Department of Financial Services had fixed March 4 for the meeting.

This is going to be the first meeting after presentation of Union Budget 2025-26 in Parliament.

The 12 PSBs have posted highest-ever net profit of Rs 1.29 lakh crore in the April-December period of the current fiscal year, marking an annual increase of 31.3 per cent.

The performance of PSBs has shown significant improvement on key financial parameters, like record net profit growth, improved asset quality, and build-up of adequate capital buffers, during the period under review.

Further, improved asset quality is also visible from significantly low net NPA ratio at 0.59 per cent (aggregate net NPA outstanding of Rs 61,252 crore), the finance ministry had said in a statement.

They posted aggregate business growth of 11 per cent (year-on-year), with improved aggregate deposit growth at 9.8 per cent. Total aggregate business of PSBs reached Rs 242.27 lakh crore during the period.