The Finance Ministry has announced the restitution of over Rs 6,800 crore in unclaimed bank deposits to nearly 29 lakh claimants across India in the last six months. A review meeting chaired by M. Nagaraju, Secretary of the Department of Financial Services, assessed the performance of public sector banks in various areas during FY 2025–26.
A coffee table book titled “Your Money, Your Right” was unveiled during the meeting, showcasing the efforts to empower citizens to reclaim unclaimed financial assets. The revamped website of the Department of Financial Services was also launched, offering enhanced accessibility and available in 23 regional languages.
The meeting, attended by senior officials and banking representatives, highlighted the strong financial and operational performance of public sector banks. Key areas such as business growth, profitability, and asset quality were comprehensively assessed.
Public Sector Banks demonstrated robust performance during FY 2025–26, with aggregate business reaching approximately ₹283.3 lakh crore and the highest-ever annual net profit of around ₹1.98 lakh crore. Asset quality remained strong, with Gross Non-Performing Assets (GNPA) at 1.93% and Net Non-Performing Assets (NNPA) at 0.39%.
Progress under major financial inclusion initiatives like Pradhan Mantri Jan Dhan Yojana and digital lending schemes was reviewed. Public Sector Banks were advised to enhance digital banking ecosystems, cyber security frameworks, and access to credit for MSMEs.
Banks were urged to provide support to eligible borrowers, improve grievance redressal mechanisms, and explore new business opportunities for sustained profitability and growth. They were also advised to stay prepared and adaptable to global crises.
