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Informist, Monday, Nov. 10, 2025

 

NEW DELHI – The finance ministry has called for a meeting with heads of public sector banks on Wednesday to review the financial performance of the state-owned banks in the September quarter, two officials said Monday. The ministry will also review the performance of schemes for financial inclusion by PSU banks and the performance of these banks' mobile applications, one of the two officials cited above said. 

 

In the quarter ended September, the 12 public sector banks collectively reported a net profit of INR 495 billion. 

 

The meeting, which will be chaired by Department of Financial Services Secretary M. Nagaraju, assumes significance against the backdrop of growing rumours of the government reconsidering its decision to privatise state-owned lenders and leaning towards merging a few of them to create larger PSU banks. Hinting at the possibility of the next round of mergers, Nagaraju had said in October that "possibly, yes...there are a large number of combinations, permutations for this exercise, government always looks at the most important parts of the consolidation," he had said at the Business Standard BFSI event in Mumbai.

 

The finance ministry typically reviews the performance of banks every quarter. The last such meeting was held on Aug. 20. 

 

Besides the financial performance, Nagaraju will take stock of the banks' performance in financial inclusion schemes including Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana, Pradhan Mantri Mudra Yojana, Stand Up India, and PM Vishwakarma. Financial inclusion and efficient customer grievance handling are also likely to be discussed in the meeting. The official cited above said that the state-owned banks will showcase their mobile apps so that they can take the feedback from the ministry to improve them further.  End

 

Reported by Priyasmita Dutta

Edited by Akul Nishant Akhoury

 

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