country’s banks The profit of has crossed the record level of Rs 3 lakh crore for the first time. Prime Minister Narendra Modi shared this information on social media platform X and expressed happiness that the condition of banks has improved a lot in the last 10 years. This has helped the poor, farmers and small businessmen to get loans easily. Stock market experts say that the condition of public sector banks is continuously improving. NPA of banks is decreasing and profits are increasing rapidly. Its effect is visible on the stocks of banks. Stocks remain bullish. Now the effect of increase in profits reaching record can be seen on bank stocks on Tuesday. A good rise can be seen in the shares of many banks.
Profit of government banks increased by 34 percent
Let us tell you that in the financial year 2023-24, government and private banks together have registered a profit of Rs 3.1 lakh crore. During this period, the profit of government banks has increased by 34 percent on an annual basis to Rs 1.4 lakh crore and the profit of private banks has increased by 42 percent to Rs 1.7 lakh crore. Tremendous changes have been seen in public sector banks in the last 10 years. The balance sheets of banks strengthened. Also, there has been a big decline in non-performing assets (NPAs).
What did the Prime Minister write on X?
Posting on social media platform
It has crossed Rs 3 lakh crore for the first time.” Attacking Congress, PM Modi wrote, “When we came to power, banks were facing huge losses and more NPAs due to the phone-banking policy of the UPA government. . Due to this the doors of banks were closed to the common people. The improvement in the health of banks will directly benefit the poor, farmers and medium and small scale industries.”
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