Indian state banks achieve Rs 1.41 lakh crore net profit; GNPA drops to 3.12 per cent in FY24

Indian Public Sector Banks (PSBs) achieved a record net profit of Rs 1.41 lakh crore in FY24, with GNPA declining to 3.12% by September 2024. The first half of FY25 saw continued growth with a net profit of Rs 85,5206,000 crore. This success is attributed to improved asset quality, operational efficiency, and government support, including schemes promoting financial inclusion.