India's banking sector has achieved a significant milestone, with net profits surpassing Rs 3 lakh crore for the first time in FY 2023-24, rising 39% YoY. Prime Minister Narendra Modi hailed this as a 'remarkable turnaround' over the past decade. Public banks have quadrupled their profits in the last three years, outpacing IT companies. Modi attributed this success to the government's policies, which have improved credit availability and transformed banks into pillars of support for the poor, farmers, and MSMEs. This marks a stark contrast to the situation a decade ago when banks were struggling with losses and high non-performing assets (NPAs) due to previous policies.
STORY | Remarkable turnaround in banking sector, net profit crossed Rs 3 lakh cr first time: PM Modi READ: https://t.co/vJXaaG7Cui https://t.co/7n3FsrYlCi
Incredible turnaround for the Indian banking sector in the last 10 years. Kudos to @narendramodi ji led BJP government for steering the banking sector towards remarkable profits! In a decade govt turned banks into pillars of support for the poor, farmers, and MSMEs.… https://t.co/SgYmhVvDoj
Indian #banking sector pips IT as net profit tops Rs 3 lakh crore in FY24, rises 39% YoY Read more at: https://t.co/JUdh97wpC3
Prime Minister @narendramodi has praised the "remarkable" turnaround in the health of India’s banking sector after net profit crossed Rs 3 lakh crore for the first time in FY24. https://t.co/xerRj6LVbR
#IndianEconomy | Net Profit of #BankingSector crosses Rs 3 lakh crore in FY 2023-24 for the first time https://t.co/VIF7kd3sbK
First time ever! Banks beat IT with RECORD net profit in FY24! Here's how PM Modi reacted https://t.co/CL4CXSJli8
💰 India's banks profit crosses Rs 3 lakh crore mark for the first time 📈 Public banks quadruple profits in 3 years 💻 Beat IT companies 👏 PM Modi hails "remarkable turnaround" and improved credit availability https://t.co/S0I9KTCHw4
‘Remarkable turnaround’: PM Modi on Indian banking sector’s growth in 10 years #PMModi https://t.co/Le1hVahOjz
#BreakingNews: PM hails India's banking sector; said 'remarkable turnaround in 10 years,' said the PM. @_pallavighosh shares more with @kritsween #PMModi #Banking https://t.co/YxIHgAy9g7
In a remarkable turnaround in the last 10 years, India's banking sector net profit crosses Rs 3 lakh crore for the first time ever. When we came to power, our banks were reeling with losses and high NPAs due to the phone-banking policy of UPA. The doors of the banks were closed…