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Public sector banks performed well in the March quarter of FY23. Earlier, PSB had multiple issues in the past including mounting NPAs, an increased number of defaulters, and lack of growth in deposits. Now things have changed. The reason behind this success varies from bank mergers to shifts in customer base. businessline’s Hamsini Karthik explains the factors that led to this excellent growth of gaining Rs. 1 Lakh Crore profit.
The Finance Ministry has been focusing on improving the financial situation of PSBs. Their consistent efforts have led to this stellar result. Though there are positive developments, PSBs still find it hard to perform in the stock markets. How did PSBs achieve this result? What are the reasons behind it? Was there a strategy that led to this excellent result? What is the way forward? Let us find them out in this video.
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