Taking Stock
Banking secy likely to review PSU banks' financial performance Jan 15, says source
This story was originally published at 12:14 IST on 7 January 2025
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By Priyasmita Dutta
NEW DELHI – As part of the routine review of the financial performance of public sector banks, Department of Financial Services Secretary M. Nagaraju will likely meet top PSU bankers on Jan. 15, an official aware of the development said. "The finance ministry will also take stock of banks' Oct-Dec earnings," the official told Informist, on the condition of anonymity.
The meeting with top executives of all public sector banks will happen in the national capital, and will likely discuss various aspects of the banking sector, including digital innovation, cybersecurity, and financial inclusion.
The financial services department chairs these review meetings every quarter. According to a report by Motilal Oswal Financial Services, PSU banks' net profits are expected to grow 36% on year in Oct-Dec. However, sequentially, it is expected to decline 12.2% owing to lower other incomes and tepid margins, the report said. End
Edited by Akul Nishant Akhoury
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