CURRENT AFFAIRS

Detailed explanation-1: -At the bank group level, gross NPA ratios of PSBs may swell from 6.5 per cent in September 2022 to 9.4 per cent in September 2023, whereas it will go up from 3.3 per cent to 5.8 per cent for private banks, and from 2.5 per cent to 4.1 per cent for foreign banks, under the severe stress scenario, the RBI said.

Detailed explanation-2: -Eleven public-sector banks (PSBs) reported an average of 65.7 per cent year-on-year (YoY) growth in net profit at Rs 28,620 crore in the third quarter ended December 2022 (Q3FY23).

Detailed explanation-3: -Subsequently, the combined profit more than doubled to Rs 66,539 crore in 2021-22 despite COVID-19 pressure. Many state-owned banks after a hiatus also declared dividends in the last financial year. In all, nine banks, including SBI, declared dividends of Rs 7,867 crore to shareholders.

Detailed explanation-4: -State Bank of India (SBI) The State Bank of India (SBI) is a government bank in India that boasts a market capitalization of Rs. 5.34 trillion. The largest public sector bank of India and second in the list of 10 best banks in India, as well as a financial services statutory body.