Finance Minister Nirmala Sitharaman will meet with heads of public sector banks on 27 June this month. In this meeting, many other issues will be discussed including reviewing the financial performance of banks and implementation of all government schemes. According to PTI news, the Finance Minister will also review the goals of public sector banks for the current financial year. In addition, sources said that the ministers may urge public sector banks to increase their loan to grow their loan, so that the growth rate can be promoted. The country’s growth rate has reached a four -year low of 6.5 percent in FY 2025.
First review meeting after repo rate reduction
According to the news, this will be the first review meeting by the Reserve Bank of India a few days ago after cutting the policy rates 50 basis points and unexpectedly cut in cash reserved ratio (CRR) for banks to provide more money to lend to promote the economy. The six -member monetary policy committee of RBI, headed by Governor Sanjay Malhotra and three external members, voted with five to one vote to reduce the benchmark repo rate from 50 basis points to 5.5 percent. It also reduced the cash reserved ratio from 1 percent to 3 percent, which will already increase the surplus liquidity in the banking system by Rs. 5 lakh crore.
These government schemes can be reviewed
During this meeting with bank heads, comprehensive review of various fields and government schemes including Kisan Credit Card, PM Mudra and three Social Security (Public Safety) Schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) can be discussed. Let us tell you, the cumulative benefit of public sector banks (PSB) reached a record level of Rs 1.78 lakh crore in the financial year ended March 2025, which records 26 percent growth compared to the previous year.
How much did the public banks earn?
In FY 2024, all 12 public sector banks made a total profit of Rs 1.41 lakh crore. In the financial year 2025, the increase in profit from year to year was around Rs 37,100 crore. According to data on stock exchanges, out of the total benefits of Rs 1,78,364 crore earned during FY 2025, the State Bank of India (SBI) alone contributed more than 40 percent to the total income. SBI recorded a net profit of Rs 70,901 crore in FY 2025, which is 16 percent higher than the previous financial year (Rs 61,077 crore). In terms of percentage, Delhi -based Punjab National Bank reported Rs 16,630 crore with a highest net profit of 102 percent, followed by Punjab & Sindh Bank, with an increase of Rs 1,016 crore with an increase of 71 percent.
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