(B.S)
No public sector bank (PSB) has faced any loss in the April-December period of the current fiscal year, and clocked a collective net profit of Rs 48,874 crore during this period, the government said in Parliament on Tuesday. “No PSB has suffered losses in the current financial year up to December 31, 2021. During the said period of the first three quarters of the current financial year, all the PSBs have registered net profit of Rs 48,874 crore,” Minister of State for Finance Bhagwat Karad said in a reply in the Rajya Sabha.
Responding to a query on profit earned by PSBs since 2010, the minister citing the data from the Reserve Bank, said the public sector banks earned a combined net profit of Rs 31,820 crore in 2020-21. However, there were collective losses for five straight years during 2015-16 to 2019-20. “The mandate of a fiscal council could be broadened to cover not only the production of macroeconomic and fiscal forecasts to inform the Budget, but also to advise on setting and recalibrating fiscal targets and rules at national and sub-national levels.
