13 Public Sector Banks Post Profits In First Half Of 2019-20 As Government Reforms Begin To Deliver

The health of public sector banks (PSBs) which have been reeling under non-performing assets for the last few years seem to be restoring as 13 PSBs have reported profits in the first half of the ongoing financial year, reports Hindustan Times.

The development was shared with media-persons by Union Minister for Finance Nirmala Sitharaman after her meeting with the chief of PSBs today (28 December). She said that the efforts and reform measures taken up by the Government have helped the PSBs to return to profit.

Sitharaman also added that the recovery from the resolution of Essar Steel adds to the Rs 4.53 lakh crore recovered by the PSBs over the past four-and-a-half years.