Banking Sector

India Set to Become World’s 3rd Largest Economy, Banking Sector Touches Decade High Performance

11 Jul 2024

As India is on the verge of becoming the world's third largest economy, the banking sector is experiencing a decade-high performance in financial metrics, according to Swaminathan J, Deputy Governor of the Reserve Bank of India (RBI). He highlighted the central bank's efforts to enhance the auditing process to ensure...

SBI Report Urges Fiscal Prudence And Sectoral Reforms Ahead Of Upcoming Budget

08 Jul 2024

Ahead of the upcoming budget on July 23rd, a recent research report by the State Bank of India (SBI) outlines critical areas requiring attention to foster sustainable economic growth in India. The report stresses the importance of maintaining fiscal prudence while continuing on the path of fiscal consolidation, proposing a...

Banking Sector Surpasses Net Profit Of Rs 3 Lakh Crore For First Time in FY24

20 May 2024

In FY24, the banking sector achieved a significant milestone as its net profit surpassed Rs 3 lakh crore for the first time. Both public and private sector banks contributed to this remarkable feat, with the net profit of listed banks rising by 39% to Rs 3.1 lakh crore from Rs...