PM Modi Commends Banking Sector As Net Profit Crosses Rs 3 Lakh Cr For First Time In FY24

Share on:

Prime Minister Narendra Modi has praised the “remarkable” turnaround in the health of India’s banking sector after net profit crossed Rs 3 lakh crore for the first time in FY24. The net profit of listed public and private sector banks rose 39% to Rs 3.1 lakh crore from Rs 2.2 lakh crore in FY23.
Public sector banks generated a record Rs 1.4 lakh crore in net profit during the year – an increase of 34% over the year-ago period – while private sector banks increased their net profit by 42% to nearly Rs 1.7 lakh crore compared to Rs 1.2 lakh crore a year ago.
In a social media post, Mr. Modi said, that this improvement in the health of banks will help improve credit availability to the poor, farmers and MSMEs.

Disclaimer: This press release is sourced from News On AIR, Prasar Bharti and Press Information Bureau India (PIB).

Dilip Soni

Dilip Soni is Journalist, Blogger, Digital Creator, Media Consultant, Digital Marketing and Website SEO Expert.