Home News public sector bank: No public sector bank faced loss in three quarters to Dec’21 of this fiscal

public sector bank: No public sector bank faced loss in three quarters to Dec’21 of this fiscal

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public sector bank: No public sector bank faced loss in three quarters to Dec'21 of this fiscal


None of the public sector banks faced any losses for the April-December period of the current financial year, the government said in Parliament on Tuesday, with a collective net profit of Rs 48,874 crore during the period.

“None of the PSBs posted a loss for the current financial year ended December 31, 2021. All PSBs posted a net profit of Rs 48,874 crore during the aforementioned period in the first three quarters of the current financial year,” Finance Minister Bhagwat Karad of India said in a statement. Rajya Sabha’s written reply.

In response to a query on the profits earned by public sector banks since 2010, the minister citing data from the Reserve Bank said that public sector banks posted a consolidated net profit of Rs 31,820 crore in 2020-21.

However, between 2015-16 and 2019-20, there was a collective loss for five consecutive years.

Net loss in 2017-18 was highest at Rs 85,370 crore, followed by Rs 66,636 crore in 2018-19; Rs 25,941 crore in 2019-20; Rs 17,993 crore in 2015-16 and Rs 17,993 crore in 2016-17 11,389 crore for the year.

Between 2009-10 and 2014-15, PSB made a profit on its books.

Asked if the number of branches of public service agencies has decreased over time, Callard said: “No.”

He said that between March 31, 2010 and March 31, 2021, the number of branches of public service agencies increased from 58,650 (including 13,596 metropolitan and 14,959 suburban branches) to 84,694 (including 16,369 branches) large cities and 23,347 suburban branches).

In a separate reply to the government’s measures to encourage customers to adopt digital payments, Callard said that “facilitating digital payments is one of the government’s priorities to facilitate accessible and seamless banking transactions”.

Among the various measures taken by the government, the RBI has advised banks not to charge any fees for funds transfers made by savings bank account holders through the NEFT system via online banking or the bank’s mobile app, he said. Initiated online, effective January 1, 2020.

In addition, on or after 1 January 2020, any fees (including merchant discount rates) paid by electronic means such as RuPay debit cards, BHIM-UPI and BHIM-UPI QR codes are not applicable.

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