Finance Ministry says public sector banks hit record Rs 1.98 lakh crore profit in FY26 as GNPA falls to 1.93%

Key facts

• Public sector banks recorded their highest-ever net profit of Rs 1.98 lakh crore in FY 2025-26, according to the finance ministry.
• The gross non-performing assets (GNPA) ratio of public sector banks fell to 1.93 per cent as of March 31, 2026, the lowest level in several decades.
• Total business of public sector banks reached Rs 283 lakh crore in FY26.
• The finance ministry issued a point-by-point rebuttal to Samajwadi Party president Akhilesh Yadav's allegations that the government has made banking worse than a moneylender.
• Most public sector banks have either waived or reduced charges for non-maintenance of minimum balances in regular savings accounts.
• Locker compensation under current RBI rules can be up to 100 times the annual locker rent.
• More than 59 crore Jan Dhan accounts have been opened since the Pradhan Mantri Jan Dhan Yojana launched in August 2014, with no minimum balance requirement.
• Under the Pradhan Mantri Mudra Yojana, more than 59 crore loan accounts have received credit worth over Rs 43 lakh crore.
• The Financial Inclusion Index rose from 43.4 in 2017 to 70 in 2026.
• Banking service centres have been established within a five-kilometre radius, connecting all villages to banking outlets.
• Customers can report digital financial fraud through the national helpline number 1930.